Business Travel Tech Talk London, 16 October,
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Former Easyjet executive Saad Hammad is to become Flybe’s new chief executive from August 1.
Hammad was chief commercial officer at Easyjet between 2005 and 2009, and has also been a non-executive director of Air Berlin. He is currently managing director at private equity firm Gores Group.
He will take over from Flybe’s current CEO Jim French, who will remain as the regional airline’s non-executive chairman.
Hammad said: “I am very much looking forward to the opportunity of building on what has already been achieved under Jim's stewardship and also on the firm foundations for commercial improvement which he and the board have made so far this year.
“Flybe is making excellent progress on its turnaround plan. The business is once again 'fit to compete' and, with further opportunities to drive its competitive advantages, I look forward to leading Flybe into a new and exciting era.”
Flybe has issued a succession of profit warnings over the last year and made a loss of £40.7 million in its last financial year - mainly due to its struggling UK division.
French added: “Flybe has recently updated the City on the significant progress made in its major turnaround plan which is on track to deliver over £50 million in long-term cost savings and has generated over £40m in cash to fund the transition.
“The next key elements of the plan are to capitalise on its revised competitive low cost-base and Flybe's strong brand profile.”