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Airline reports successful year

Flybe has announced a positive set of financial results for the year ended March 31, 2010.

According to the accompanying report, Flybe is one of only three major European airlines to report profits throughout the global recession.

The key figures show turnover maintained at £570.5 million (2008/09: £572.4 million), with pre-tax profits of £6.8 million (2008/09: £12.8 million).

Meanwhile, net debt was more than halved to £21.0 million (2008/09: £49.8 million).

Also, passenger numbers were maintained at 7.2 million (2008/09: 7.3 million), despite the continuing effects of the recession.

The report says trading for the first five months of the current financial year, up to August 31, has been strong, with revenue and profit before tax ahead of the same period last year, before the impact of the Icelandic volcanic ash cloud.

Flybe, which describes itself as Europe's largest regional airline and the United Kingdom's biggest domestic operator, current runs services from the Isle of Man to Birmingham, Bristol, Edinburgh, Glasgow, London Gatwick, London Luton, Liverpool and Manchester.

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