The group saw adjusted pre-tax profits for the six months to September 30 fall year on year from £15.9 million to £8.4 million due to an “onerous” IT contract and rising maintenance costs. Non-adjusted pre-tax profits rose from £7 million to £15.1 million due, the airline said, to revaluation gains of £6.7 million on dollar-based aircraft loans.
Flybe chief executive Christine Ourmieres-Widener said reductions in the airline’s fleet size meant load factors would rise and yields “would stabilize”. The carrier saw a four percentage point increase in load factors to 76% during the period. Average revenue per seat increased 8.8% to £55.29.
