Flybe Group PLC reported operating and revenue results for the third quarter ended December 31, 2014. For the period, the company reported 6.1% reduction in seat capacity to 2.5 million seats against 2.7 million a year ago. 5.5 ppts improvement in load factor to 74.3% against 68.7% a year ago, driven by a 5.2% reduction in passenger yield to £67.65 against £71.33 a year ago. 2.4% growth in passenger revenue per seat to £50.23 against £49.04 a year ago.

For the period, the company reported passenger revenue reduced by 3.8% to £126.8 million against £13.8 million a year ago.

For the fourth quarter, the company expects seat capacity of 2.6 million seats, up by 14% against prior year; 36% of seats sold as at 20 January 2015 against 34% in the prior year; passenger revenue per seat down by 3%.

The company expects to achieve around break-even at pre-tax profit level for the Full Year to March 2015, before the costs of the E195s and any impact of USD loan revaluation, but after the already announced write down of Finland JV of £9.9 million and EU261 flight delay provision of £6 million. The Group is well positioned for the future with a strong balance sheet and an improving core UK business.