Flybe’s £4m hit from flight delays

FLYBE is preparing for a £4m drop in full-year revenues after the ‘Beast from the East’ meant it had to cancel almost 1,000 flights in February and March.

In a trading statement the airline revealed that cancellations increased 63pc to 994 in the three months to the end of March as heavy snow grounded flights and caused airport closures. The impact on its revenues will be reflected in its full-year results.

Flybe plans to increase profit and cash flow and reduce its plane fleet as it deals with the burden of soaring costs in recent years.