Thursday, January 24, 2013
UK’s Flybe to Cut 300 Jobs, Reduce Fleet
U.K. carrier Flybe announced restructuring plans to cut 300 jobs and reduce its fleet by seven aircraft, joining other European airlines that have been forced to cut costs due to the economic slump in the region.
Flybe operates Bombardier Q400s and Embraer E-Jets, but did not disclose which planes it will look to sell.
“Today’s restructuring plan for the airline has clear, two year profit targets which we believe are deliverable and realistic. A new, slimline business model for U.K. scheduled services underpins a turnaround which I expect will deliver a £3.00 ($4.74) per seat profit target in the medium term,” said Jim French, Flybe CEO.
Flybe will focus on its U.K. scheduled services and the growing European contract flying market moving forward.
Several other European carriers, including British Airways and Spanish carrier Iberia recently announced similar cost reduction measures. More