Flybe expects record profits
04.07.08
Flybe will announce record profits in its upcoming full year results, despite record oil prices, abtn.co.uk reports. Flybe chief commercial officer Mike Rutter - speaking ahead of annual results and before its new franchise with Scottish airline Loganair launches in October – told the website it is benefiting from a lower break-even factor, meaning it can withstand fuel prices more easily.
Mr Rutter said: ‘The airline industry is facing the greatest set of challenges since the 1974 oil crisis, a triple whammy of record fuel prices. reducing consumer demand for discretional leisure flights because of the credit crunch and increasing taxation driven by ill-thought-through green proposals.'
‘As Europe’s largest regional airline - Flybe will carry 8 million passengers in 2008 – we have been preparing for these challenges for five years. While we could not have predicted the size of the increase in the oil price, we were clear it was going to go up. We were also clear two years ago that consumers’ appetite for visiting places they had never heard of would wane, dented by a weaker economy and by a consumer backlash to the service attitude of some hard-core low - cost airlines.’
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