Flybe has announced plans to cut 300 jobs as it attempts to pull out of a financial tailspin that led it to a £1.3 million loss in the second half of last year.
It hopes to make £35m of savings by 2014/15 by a streamlining of its business model. It also confirmed it was in discussions with Ryanair which could see it take on a number of the carrier’s aircraft and routes if European authorities give the Irish carrier the go-ahead to bid for Aer Lingus.
Flybe said the first part of its turnaround plan expected to cost £10m to £12m to implement will see it reduce costs and de-risk the business, while the second phase will see it focus on increasing revenues and ongoing efficiency savings.
The reduction of 300 jobs, around a tenth of the total workforce, will come from across the group.
The airline said it would also be looking to reduce its outlay by renegotiating contracts with suppliers, further automating its check-in procedures, and a fuel efficiency programme.
It did not envisage any short-term changes to its operational bases, and its UK flying schedule would remain “broadly intact.”
The move comes weeks after two Flybe-badged flights to Belfast and Birmingham were withdrawn from Dundee Airport.