(Reuters) - Flybe Group Plc (FLYB.L), operator of Europe's largest regional airline, said on Monday it would cut another 500 jobs, mainly in the UK, after deep cost cuts helped it post its first half-year profit in two years.
Further to the announcement on 11 November 2013, Flybe has commenced collective consultations with Balpa, Unite, Prospect and employee representatives in respect of the Company's proposal to make around 500 redundancies in the UK.
Nov 13 (Reuters) - Flybe Group PLC : * Aberforth Partners LLP raises stake in Flybe to 10.82 percent * Polar Capital LLP raises stake in Flybe to 4.59 percent * Source text for Eikon: * For more news, please click here.
Standard Chartered Plc (STAN) and Barclays Plc (BARC) led banks lower, losing more than 2 percent. Flybe Group Plc (FLYB) slid the most since June after its largest shareholder sold its entire stake in Europe's biggest regional airline.
FLYBE TO CUT 500 JOBS IN COST-CUTTING DRIVE. Flybe Group Plc has revealed it will axe another 500 jobs in a cost-cutting drive that will also see the regional airline reviewing unprofitable routes and bases.