Shares in regional airline Flybe have fallen over 10 percent this morning after the release of a trading update.

The company saw load factor fall 2 percent on last year to 68 percent, but passenger volumes maintained at 1.8 million. The company temporarily reduced seat capacity by 2.4 percent in response to weaker demand after the Paris attacks in November, as well as taking ownership of three of their Q400 aircraft – two strategies designed to have long term positive effects.

Saad Hammad, Chief Executive, said in a statement: “This last year has seen enormous progress at Flybe. We completed the resolution of the key legacy issues while significantly improving our service and customer offering. We are carrying more passengers across a growing route network and doing so at a lower unit cost.”

Flybe (LON:FLYB) is currently trading down 10.16 percent at 57.50 (1034GMT).

07/04/2016