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Flybe chief executive Hammad fires ejector seat

Wed, 26th Oct 2016 11:02

(ShareCast News) - Flybe chief executive Saad Hammad has parted company from the beleaguered regional airline with its shares trading not far from all-time lows.Chairman Simon Laffin has stepped in to an executive role as the ejector seat has been pressed for Hammed, who started at the company in August 2013, with immediate effect.Flyby said in a statement that its search has already begun for a new CEO."The board would like to thank Saad for his energy and drive which has been a major contributor towards Flybe's transformation over the last three years. He mapped out a clear vision for the group and led it to a significantly stronger position," Laffin said.He added that in spite of the ongoing challenges facing the aviation industry, Flybe was "well placed" and would continue its strategy of focusing on regional routes.Along with June's annual results the company had announced an ambitious expansion of its network, including its first wholly non-British routes and 'pop-up' flights to cater for international football fans and unhappy rail passengers.Hammed, who axed several loss-making domestic routes and took a £20m hit from surplus aircraft costs, said at the time that with the airline in its final year of a three-year turnaround, it was "well positioned for profitable growth".
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11 Nov 2015 11:37

Flybe puts profit on the radar as turnaround plan kicks in

(ShareCast News) - Flybe swung to a profit in the first half of the year as the budget airline's turnaround plan begins to bear fruit. For the six months to end of September, it posted a pre-tax profit of £22.9m compared with a loss of £3.3m in the same period last year as it cut costs and added new

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11 Nov 2015 11:25

UPDATE 1-Flybe's turnaround plan yields first-half profit swing

(Adds CEO comment, analyst comment, share price) LONDON, Nov 11 (Reuters) - British regional airline Flybe Group was upbeat ahead of the traditionally slacker winter travel period after its turnaround plan returned it to profit in the first half. Flybe, whose routes connect UK regiona

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11 Nov 2015 10:31

Flybe Swings To Profit In First Half But Warns Of Challenges Ahead

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11 Nov 2015 07:19

Flybe Group swings to H1 profit

LONDON, Nov 11 (Reuters) - British airline Flybe Group swung to a profit in the its financial first-half, after it grew its UK regional business, cut costs under a turnaround plan and benefited from a lower fuel price. The company reported pretax profit of 22.9 million pounds ($34.70 mill

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Flybe Completes Project Blackbird As It Redeploys Last 6 E195 Aircraft

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Flybe's second quarter revenue takes off

(ShareCast News) - Budget airline Flybe said it was continuing its turnaround as it posted double-digit growth in passenger numbers and revenue. In the second quarter of its financial year, the carrier posted a 10.7% year-on-year increase in passenger numbers to 2.4m, while seat capacity rose 13.8%

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