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Flybe to start London City Airport routes | |
(about 2 hours later) | |
Flybe is to offer flights from London City Airport after signing a five-year deal. | Flybe is to offer flights from London City Airport after signing a five-year deal. |
The airline will offer services to and from Edinburgh, Belfast, Dublin, Inverness and Exeter. | The airline will offer services to and from Edinburgh, Belfast, Dublin, Inverness and Exeter. |
Flights are due to begin on 27 October, and Flybe estimates the routes will carry about 500,000 passengers a year. | Flights are due to begin on 27 October, and Flybe estimates the routes will carry about 500,000 passengers a year. |
"Today's announcement is a significant landmark in the re-birth of Flybe," said the airline's chief executive, Saad Hammad. | "Today's announcement is a significant landmark in the re-birth of Flybe," said the airline's chief executive, Saad Hammad. |
"We are delighted to re-enter the London market at London's most convenient airport." | "We are delighted to re-enter the London market at London's most convenient airport." |
Growing again | Growing again |
Exeter-based Flybe is seeking to revive its fortunes after losses forced it to shrink its operations. | Exeter-based Flybe is seeking to revive its fortunes after losses forced it to shrink its operations. |
In the past couple of years, it has shed hundreds of jobs. In November last year, it announced plans to close several of its regional bases. | In the past couple of years, it has shed hundreds of jobs. In November last year, it announced plans to close several of its regional bases. |
It also sold 25 pairs of arrival and departure slots at London Gatwick to Easyjet for £20m. | It also sold 25 pairs of arrival and departure slots at London Gatwick to Easyjet for £20m. |
However, in its last set of results, there were signs of improvement, as it reported pre-tax profits of £13.8m for the six months to 30 September, compared with a loss of £1.6m a year earlier. | However, in its last set of results, there were signs of improvement, as it reported pre-tax profits of £13.8m for the six months to 30 September, compared with a loss of £1.6m a year earlier. |
Earlier this year, the airline raised £150m to help fund expansion. | Earlier this year, the airline raised £150m to help fund expansion. |
Flybe currently operates 171 routes serving 16 countries. | Flybe currently operates 171 routes serving 16 countries. |
As part of the London City Airport deal, Flybe also plans to introduce to services to European ski resorts, as well as to destinations in France and northern Spain. | As part of the London City Airport deal, Flybe also plans to introduce to services to European ski resorts, as well as to destinations in France and northern Spain. |