Flybe losses

Regional airline Flybe came out with some dreadful trading figures last week with losses increased to £40.7m from £6.2m a year ago.  The airline has already announced the closure of its Gatwick base and a £20m slot sale to easyJet raising alarm from Provincial centres, the Isle of Man, and Channel Islands, with the loss of competition on some routes, and no London access at all in other cases. (See BTN 27 May) 

Flybe now hopes to make annual savings of £50m by 2014/15 after slashing more than 20% of its workforce and cutting pilot pay.  The airline says it will concentrate on four major hubs Southampton, Manchester, Birmingham and the Channel Islands.  Deferred are up to 20 Embraer aircraft.  The airline blames the double taxation burden which means that passengers on domestic flights (with the notable exception of Inverness) pay the Government in both directions. www.flybe.com

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