In a trading update the carrier predicted that closures to airports and flight cancellations across the UK and Europe caused by “extremely poor weather” would impact its full-year financial results.
Flybe had to axe 994 flights due to weather in Q4 compared to 372 during the same three month period to March 31 last year.
The airline said that as a result “we anticipate this to have an impact of around £4m from lost revenue and additional care and assistance costs on cancelled and delayed flights.
“Coming so late in the financial year means that this added loss will be reflected in our full year financial results.”
Elsewhere, Flybe’s load factors during its final financial quarter rose 6.8 percentage points to 73.5% as capacity was reduced.
The strategy saw estimated passenger revenue per seat up by 9% to £50.84.
Despite capacity being cut by 6%, Flybe’s passenger carryings rose by 3.7% to 2 million.
As of March 31, Flybe had returned five out of six aircraft as they come to the end of their leases with the final one to be returned in early April leaving a fleet size of 79.
The airline said it strategy of reducing capacity “to focus on profitable flying” will continue into the new financial year.
“Very early indications of our summer trading are encouraging with an estimated 7.5% increase in passenger revenue per seat offsetting an expected 7.9% decrease in capacity.”
Flybe added that it had so far sold 21% of capacity for the first half of its new financial year a rise against 20% sold at the same time last year.
Christine Ourmieres-Widener, Flybe chief executive, said: "The Flybe strategy as set out in our business plan to reduce the fleet size is delivering higher load factors and revenue per seat.
“The drive to reduce costs is continuing, given added impetus by the rise in fuel prices and lower value of sterling.
“Despite these headwinds, the foundations are being put in place to strengthen the business and we remain confident that our strategy will continue to improve performance as we go into the new financial year."
