UK no-frills carrier to chop 300 positions
(01-23 17:04)
Low-cost airline Flybe said on Wednesday that it intended to cut 300 jobs to slash costs in the face of a high tax burden and reduced demand for its services across Europe.
"As a result of the cost reduction plan announced today, Flybe UK has commenced the consultation process which may lead to circa 300 proposed redundancies.
"This would equate to approximately 10 percent of its current UK based employees,'' the company said in a statement to the London Stock Exchange.
Flybe said it wanted to cut costs by 35 million pounds (HK$427 million.
Flybe chief executive Jim French added that the move was necessary "faced with the brutal impact of a 160-percent rise in air passenger duty over the past six years and the consequent 20 percent decline in domestic traffic over the same period.''
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