FLYGLOBESPAN, the Edinburgh-based no-frills airline, has won its second contract from the Ministry of Defence and announced it is set to return to profitability.
The company recently started operating a Falklands service from RAF Brize Norton in Oxfordshire for the MoD, and has now agreed a separate five-month leasing arrangement with the MoD that will see a Flyglobespan 767 fly from the RAF base to Qatar.
The contract, which runs from December, is expected to bring in more than £40 million.
The firm also revealed it had returned to the black in the 12 months to October 31 following a £13m loss in the previous year.
Its profit figure for the year is thought to be in the region of £1m – and it is predicting higher profits in the current year.
Flyglobespan said the MoD contract increased the latest full year's turnover from winter leasing to slightly more than £40m – 60 per cent more than the previous year.
Chairman Tom Dalrymple said: "We are absolutely delighted with the latest leasing contracts. These will have a hugely positive impact at a traditionally lean time and leave us much more strongly positioned as summer approaches."
The losses of 2006/07 followed problems with planes on the firm's Canadian routes, as well as investment in new aircraft and rising fuel prices.
