Flybe shares sink on profit warning

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Flybe shares have fallen more than a third after issuing a profit warning, blaming poor demand, a weaker pound and higher fuel costs.

The airline now expects a full-year loss of £12m – more than triple the figure analysts had expected.

Flybe said passenger revenue per seat rose 6.8%, while the number of seats filled was up 7.2% year-on-year.

However, it warned consumer demand had “weakened” in recent weeks and was likely to fall further.

Shares fell 11.1p to 21.1p, valuing the firm at just £63m.

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