REGIONAL airline Flybe yesterday said it will continue its expansion into continental Europe, after becoming one of only three major European airlines to report profits throughout the recession.

The privately-owned carrier, which recently signed a codesharing agreement with Air France, said it is looking at potential acquisitions of regional airlines in Europe after weathering the economic storm.

Flybe, which operates daily links between Liverpool John Lennon Airport (JLA) and the Isle of Man, announced earlier this month that it will operate up to 26 flights a week to George Best Belfast City from JLA, from October 31.

It said it has already sold “thousands” of tickets in the last 10 days for this route. The Exeter-based carrier, which is also in flight-share discussions with Scandinavian airline Finnair, said it had put in an order to purchase up to 140 new aircraft, which would replace some of its current 68-strong fleet.

Flybe posted pre-tax profits before exceptionals of £6.8m in the year to March 31, down from £12.8m, after a marginal decline in turnover to £570.5m, from £572.4m. Flybe flew 7.2m passengers in the financial year, slightly down on 7.3m the year before, and is now the biggest carrier of UK domestic passengers.

Jim French, Flybe chief executive, said: “If you’re making a profit during the recession, then that’s the time to expand your business.” Mr French said Flybe had a team “looking at acquisitions in Europe”, but would not specify in which countries the airline was considering expansion.