Debonair Warning

Debonair, the low-cost airline, said on Friday it would make a loss this year rather than the £3.1million pre-tax profit it forecast when it floated on Easdaq, the pan-European exchange, in July. The company, which is based at Londons Luton airport, said revenues over the summer were 30 per cent lower than expected. Debonair said, however, that it expected its financial performance this year to be better than in 1996-97, when it made a pre-tax loss of £15.7 million on turnover of £14.2 million. The airlines announcement comes shortly after the decision by Virgin Express, the low-cost carrier controlled by Richard Branson, to seek a dual listing in New York and Brussels.