LONDON (Reuters) – Regional airline Flybe <FLYB.L> said annual profit would come in below expectations as demand across its markets weakened in recent weeks and it faces headwinds from a higher fuel price and a fall in the value of the pound.
Flybe said on Wednesday that it expected to post an adjusted loss before tax of around 12 million pounds, compared to a current Refinitiv forecast for it to make a pretax profit of 7 million pounds.
“We have made progress in driving our unit revenues across the Summer season, but we are now seeing a softening in the market,” Flybe CEO Christine Ourmieres-Widener said in a statement.
“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.”
(Reporting by Sarah Young; editing by Costas Pitas)