Flybe cuts full-year revenue target

“We do not expect a material recovery in the short term”

As Finnair reports more optimistic quarterly figures, its partner on some Nordic, Baltic and other European routes, the British low-cost carrier Flybe has been forced to cut its full-year revenue target. It explained the decision by pointing to the villainous duo of weak consumer markets and high oil prices, despite rising revenues. UK-to-Europe leisure routes are performing well, the carrier said, but the business market is starting to weaken.
“Although forward booking visibility remains extremely limited, the continuing challenges in the UK and Eurozone economies, together with distortions from the Jubilee and Olympics, mean that group revenue trends for the year to 31 March 2013 currently point to year-on-year growth of between flat and 2%, which is below our previous expectations,” the company explained.
“We remain cautious over the outlook and do not expect a material recovery in either consumer or business confidence in the short term.”
[pictured: Flybe Bombardier Q400; courtesy Flybe]