Flybe losses 'worse than expected'

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.