Flybe will cut a further 500 jobs despite returning to profits in its recent half year results.
Pilot union BALPA is said to be shocked by the announcement yesterday after Flybe announced pre-tax profits were at GBP13.8 million for the six months up to 30 September, compared to a GBP1.6m loss last year.
The carrier is now hoping to save another GBP33m over the next two years through the redundancies; network and fleet changes ad improved commercialisation.
Exeter-based Flybe had already cut 490 jobs in 2012-13 as part of its cost-cutting programme, which has seen a 5.6% increase in passengers and group revenue increase to GBP351.1m.
Saad Hammad, Flybe’s recently appointed CEO said: “I joined Flybe in August this year. 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. The business needed action now and so today we are explaining our next phase which encompasses a review of everything we do and how we do it. Most of the immediate actions are completed, being implemented or already being consulted on. Unfortunately there is a proposal for further redundancies. We will consult with the trade unions and employees to ensure that this is done fairly and delivers the right outcome for the business.”