Flybe reports drop in profits

Devon based budget airline Flybe reports that its pre-tax profits have dropped by nearly two thirds.

The reported figures cover the year until end March 2009 and show that pre-tax profits have dropped from £35.4 million in 2007-2008 to £12.8 million.

Flybe attributes a lot of this to the fact that business travel for them virtually stopped in the first quarter of 2009.

However.............during the same period, British Airways reported a pre-tax loss of £401 million.

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