Flybe to cut 500 jobs despite return to black

Flybe to cut 500 jobs despite return to black

Flybe has announced it will cut 500 jobs across the business, despite reporting a return to profit.

Pre-tax profits at the Exeter-based airline were £13.8 million for the six months to September 30th, compared with a loss of £1.6 million a year earlier.

The company said its turnaround plan was on track to make £40 million of savings this year and £45 million in 2014-15.

Flybe employs 2,700 staff.

Flybe cut 490 jobs in 2012-13, with a further 100 going in the first half of 2013-14.

Group revenues rose to £351 million in the six months, up from £341 million in the same period last year.

The carrier now has 96 aircraft in its fleet, with 28 belonging to Flybe Finland, its joint venture with Finnish Air.