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Flybe Group PLC Announces Organizational Changes; to Cut Jobs


Wednesday, 23 Jan 2013 02:01am EST 

Flybe Group PLC announced that it is taking actions to restore profitability and it is restructuring Flybe Group to create a business with the number of divisions reduced to two, Flybe UK and Flybe Outsourcing Solutions.The Company announced phase one (of a two phase) turnaround plan for the Flybe UK business (and group activities that support the business) which is a cost reduction and de-risking plan including proposed headcount reductions of approximately 20% in management and approximately 10% in overhead and production. It will result in approximately 300 roles being made redundant in the business, an approximately 10% reduction in United Kingdom-based staff (including Isle of Man and Channel Islands), and potentially transferring certain support activities to outsource partners (call center outsourced in December 2012). The Company also announced that it does not envisage any change to the number of United Kingdom bases or route network at this stage. The cost reduction plan should deliver GBP 35 million of savings by 2014/2015. Costs of restructuring are estimated at between GBP 10 million and GBP 12 million, the majority of which will be provided in the 2012/2013 accounts. Phase two of the Flybe UK plan will focus on revenue enhancements and on-going business efficiencies. The new Flybe Outsourcing Solutions business will build by bringing together the previous Flybe Europe and Aviation Support divisions to provide an integrated outsourcing offer to customers. 

Company Quote

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16 Sep 2014