Flybe, a UK-based airline company, has reported a decrease in passenger traffic for the last quarter of 2012-2013.

The airline has reported a decrease in passenger traffic of 3 percent for its UK division, for the period from April to June 2012, with a decrease in load factor of 0.7 percent, to 62.4 percent, compared to the same period in 2011.

The airline is blaming the downturn on a general slump in business travel, as most world economies are still hampered by the financial crisis.

The airline chief executive officer, Jim French, said, ‘2012 is a significant year for Flybe. In July, we will celebrate the tenth anniversary since we changed our business model and transformed the airline into Flybe.

A lot has happened in those ten years. Back in 2002, we had 44 routes, 31 aircraft and 2.2 million passengers. Today, we operate 225 routes with 83 aircraft and last year carried 7.6 million passengers. By any measure, that is remarkable progress.

2011/12 was yet another challenging year for the aviation industry. Despite a significant reduction in consumer disposable income contributing to a further decline in the UK Domestic air travel market and significant cost pressures – the annualised price of oil being the highest ever recorded in history; airport infrastructure costs increasing significantly above RPI and Government taxation through APD continuing to increase – I believe these results demonstrate the resilience of Flybe’s business model.’

Currently Flybe operates 14 bases in the UK, and serves 77 airports worldwide, with 41.6 percent of passengers flying for business purposes. According to the 2012 CAA Punctuality Statistics, the airline’s punctuality record is the best of all major airlines operating in the UK.