In a press release, the company states that the tough weather conditions during January and February have led to the cancellation of 994 flights (372). This is despite the fact that the number of passengers and revenue per passenger were up for the period.

According to Flybe, the situation has resulted in four million pounds being lost through lost revenue and related costs to the canceled flights in the quarter. The effects are also expected to be visible on the results for the full year because they occur so late, Flybe said, without specifying further. In the summer, Flybe announced that it had piled up almost 20 million pounds in losses after an ambitious expansion in the previous year. The company is down 1.5 percent on Tuesday.

Source: finwire