Feb 3 British carrier Flybe Group Plc,
which is in the midst of a restructuring, said it was working to
cut the costs of grounding some of its fleet and now expects
fewer job losses than previously announced.
Flybe has weathered nine months that marked severe job cuts,
a new CEO, the resignation of four board members, and the
airline's biggest shareholder dumping its entire stake.
The airline had proposed 500 redundancies and estimated
one-time charges of 14 million pounds ($23.01 million) in the
current year plus a further 27 million pounds in 2014-15 for
grounding aircraft, under its 'Immediate Actions' plan announced
The company said it now expects total job losses to be
"We are encouraged by the clear momentum in the turnaround,"
Liberum analyst Gerald Khoo wrote in a note to clients.
The airline, which in July appointed ex-easyJet executive
Saad Hammad as its new chief, reported revenue of 142.9 million
pounds for the quarter ended Dec. 31.
Passenger revenue per seat from its UK Airline business rose
2.3 percent to 48.46 pounds during the quarter.