Flybe to cut fewer jobs than it had expectedMonday 03 February 2014 08.26
UK carrier Flybe Group, which is in the middle of a restructuring, said it was working to cut the costs of grounding some of its fleet and now expects fewer job losses than previously announced.
Flybe has weathered nine months that marked severe job cuts, a new CEO, the resignation of four board members, and the airline's biggest shareholder dumping its entire stake.
The airline had proposed 500 redundancies and estimated one-time charges of £14m in the current year plus a further £27m in 2014-15 for grounding aircraft, under its 'Immediate Actions' plan announced in November.
The company said it now expects total job losses to be around 450.
The airline, which in July appointed former EasyJet executive Saad Hammad as its new chief, reported revenue of £142.9m for the quarter ended December 31.
Passenger revenue per seat from its UK Airline business rose 2.3% to £48.46 during the quarter.