Flybe report losses of £40.7 million

Flybe report losses of £40.7 million Credit: Andrew Milligan/PA Wire/Press Association Images

The Exeter based airline Flybe has reported losses of £40.7 million. Thats despite its revenue increasing by more than fifiteen percent.

More than a fifth of flybe`s UK staff have lost their jobs to save costs and the company has sold its twenty five take off and landing slots at Gatwick to Easyjet. Pilots have also agreed to a cut in pay in exchange for more time off.