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Flybe to cut another 500 jobs in UK
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Flybe Group Plc, operator of Europe’s largest regional airline, said yesterday it would cut another 500 jobs, mainly in the UK, after deep cost cuts helped it post its first half-year profit in two years.
Having already cut about 590 jobs this year, the firm also said it would further cut its routes, review its fleet mix, remove surplus capacity and improve aircraft and crew utilization.
“It was clear to me that the existing Phase 1 and 2 cost savings were necessary but we simply needed to do more and to do it immediately,” CEO Saad Hammad said in a statement.
Flybe said it had 2,700 employees as of end-September.
The airline will exit its slots at Gatwick airport by March 2014, reducing its London operations to just the few flights it runs out of Luton airport.
Flybe, which counts British Airways parent IAG and billionaire investor George Soros among its top shareholders, posted a pretax profit of 13.8 million pounds (US$22.1 million) for the six months ended September 30, from a 1.6 million pound loss a year earlier.
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