Flybe sees slump in leisure travel

The Exeter-based carrier said while business travel, which makes up 45% of its passengers, was resilient, the number of passengers flying on holiday or to visit friends and family dropped in February and March.

The airline, which joined the stock market in December, added it was adding a £3 fuel surcharge per passenger to combat soaring fuel costs and was considering selling off aircraft to keep prices down.

Flybe, which flies from airports including Birmingham, Bristol, Cardiff, Doncaster, Edinburgh and East Midlands, saw shares dive nearly 20% following the update, despite confirming its full-year profit expectations of £22 million.