Flybe braces for a bumpy ride over Brexit vote impact

Higher passenger numbers could not prevent a fall in profits at the regional airline. Picture: Contributed

Higher passenger numbers could not prevent a fall in profits at the regional airline. Picture: Contributed

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Regional carrier Flybe cautioned that the Brexit vote could impact the aviation industry “operationally and commercially” and posed some short-term challenges because of the pound’s recent retreat.

The alert came as the airline, which connects UK regional airports to London and other European cities, said adjusted pre-tax profit fell 25 per cent to £15.9 million in the six months to September, weighed down by a deterioration in the European travel landscape.

However, higher passenger volumes helped drive a 12.8 per cent jump in revenues to £383m.

Flybe last month parted company with chief executive Saad Hammad by “mutual agreement”, with chairman Simon Laffin assuming the role of executive chairman until a new boss is appointed.

Laffin said: “As passenger numbers are still rising across the industry, we see further revenue opportunities.

“The aviation market is tough at the moment, with excess seat capacity in the European short-haul market coupled with a weaker pound, and both business and consumer uncertainty impacting all airlines.”

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