Flybe losses 'worse than expected'

FlyBe aircraft
Image caption Flybe said rising fuel costs had hit its business

Flybe has warned its annual losses will be worse than feared.

The Exeter-based airline is now expecting losses of £23m, £5.5m more than its previous forecast of £17.5m.

The company said summer ticket revenues were 2% ahead of last year, with passenger numbers also up, but added that its fuel costs had increased.

Flybe is cutting about 300 of its 3,000-strong UK workforce and expects to making savings of more than £25m this financial year.

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