Flybe full-year losses to stay within expectations

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European regional operator Flybe Group's full-year pre-tax loss will be within its previous guidance range, but at the lower end.

Flybe disclosed the details in a trading update following the close of its full year on 31 March.

It will give full details of its financial performance in June. But it says group revenues are "in line" with those for 2011-12, but at the "lower end" of its previous guidance range.

Flybe had been predicting a full-year revenue growth range of flat to 2%, a forecast which it had maintained in January this year.

It expects underlying costs, including fuel, will rise by 2.5% and that underlying pre-tax losses for the full year will be "within, but at the lower end" of previous guidance.

Revenue under management - which includes its Finnish joint venture Flybe Finland - will increase by about 15% as a result of more contract flying.

Flybe is undergoing a restructuring programme and the company expects initial cost savings to exceed the figure of £25 million ($38 million) given for the year to March 2014.