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It's been confirmed that 116 jobs are at risk at Flybe's headquarters in Exeter.
They're among the 500 job cuts announced by the airline earlier this week. Bases at Aberdeen, Guernsey, Inverness, the Isle of Man, Jersey and Newcastle will also shut down, although flights will continue to operate to these airports.
Share prices in Exeter based airline Flybe, have fallen after its biggest shareholder sold its entire stake. It comes after the airline announced 500 job cuts earlier this week. The shares dropped by roughly 10 per cent yesterday, when Rosedale Aviation Holdings sold a 48 per cent stake.
Unions will begin talks today at Flybe's headquarters in Exeter to try to fight the proposed 500 job losses.
Despite the airline showing a profit of £14million, the company's chief executive insists the cuts are necessary across the business to ensure it can grow in future.
The Exeter based airline, Flybe says it's cutting 500 posts to cope with what it calls 'challenging times.'
A pilots' union says it's 'shocked' by the news. Flybe is now consulting with unions and staff.
Our Exeter reporter, Richard Lawrence has the story
Exeter based airline Flybe say "tough decisions" are needed in order to save the company £25 million a year from next year.
The new cost cutting measures include the potential loss of 500 jobs and come on top of the airline's previous initiatives to save £40 million this year and £45 million in 2014/15.
They said "This will require tough decisions to be taken over the coming months and, regrettably, this proposal may result in the loss of around 500 jobs spread across the business."
One of the regions biggest airlines is to cut 500 jobs in a new move to cut costs.
Exeter based Flybe has just announced the move to stop losses. The airline recently announced it would be axing all of it routes out of Gatwick and has sold its take-off slots to Easyjet.
Latest ITV News reports
Flybe, the Exeter-based airline, has announced plans to cut posts across the business, despite reporting a return to profit