Flybe to cut 300 jobs

Following a £6.4 million post-tax loss for the year ending March 31, 2012, Flybe will cut 300 jobs as part of a £35 million ($55.5 million) restructuring plan to return the group to profitability by 2013-14. Flybe announced that it needed to take “significant actions” to achieve the turnaround. Cuts will also be made to management numbers by around 20%, while the other job losses will mainly fall on UK staff from its Exeter headquarters, as well as Manchester and Newcastle. The airline’s route network will remain intact for now although phase two of the restructuring will include a network