Home Business NewsBusinessAviation News Flybe shares crash 37 per cent after profit warning

Flybe shares crash 37 per cent after profit warning

by Purvai Dua
17th Oct 18 9:41 am

Shares in Flybe fell around 37 per cent to a record low of 21p today after the budget airline issued a profit warning, blaming a weaker pound and higher fuel prices.

The airline now expects to make a full-year pre-tax loss of around £12m, compared to a loss of £19.2m last year.

“Stronger cost discipline is starting to have a positive impact across the business, but we aim to do more in the coming months, particularly against the headwinds of currency and fuel costs,” said Flybe’s chief executive Christine Ourmières-Widener, adding: “We continue to strengthen the underlying business and remain confident that our strategy will improve performance.”

The airline also said it earned 6.8 per cent more passenger revenue per seat and had improved its efficiency in filling flights to popular locations.

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