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Jim French - Flybe's Chairman Statement and video footage

12 November 2007

1. Overview

I am delighted to report on a year of outstanding achievement at Flybe - a year in which the core business delivered an exceptionally strong trading performance and, as a result of the acquisition of BA Connect, became one of Europe’s largest regional airlines. Highlights in the year included:

• Profit before tax and exceptional items of £15.6 million for the existing Flybe operation.
• Growing the passenger volume on the existing Flybe route network by 4.9% to 5.0 million passengers.
• Continuing strong growth in ancillary revenues per passenger during the year, becoming the first airline to introduce baggage charging.
• Further rationalisation of our fleet, to enable us to deliver our two aircraft type fleet strategy by the end of 2009. This fleet will be one of the youngest and most environmentally sensitive fleets in the world. In September 2006, Flybe became the world launch operator of the Embraer 195.
• Completing the acquisition of BA Connect in March 2007.
• Strengthening the group’s corporate governance and management structure by appointing four experienced independent non-executive directors to the Board.

Chairmans full statement

View the Chairman's statement in full.

Media coverage

Jim French on BBC Breakfast (external player)

Watch Jim French on Bloomberg and Power Lunch 11th November 2007