Regional airline Flybe will cut management numbers at its UK business by 20 per cent in order to meet new profitability targets it set itself today.
The carrier, led by Scots-born chairman and chief executive Jim French, said it would take “significant actions” to restore profitability.
As well as the management cull, it will shed 10 per cent of UK “overhead and production headcount”. Total job loses will be around 300, and the group says it expects to make £35 million worth of savings by 2014.
The shake-up comes as Flybe said group revenue increased by 2.5 per cent to £143.2m in the last three months of 2012, primarily driven by the increase in contract flying revenue.