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Struggling airline Flybe names Gores Group’s Hammad CEO

3 Jul 2013

Saad HammadManaging director of private equity firm Gores Group Saad Hammad has been appointed as chief executive of struggling regional airline Flybe.

Hammad, pictured, previously served as chief commercial officer of easyJet and a non-executive director of Air Berlin. He will start his new job on August 1 this year.

Last month Flybe revealed a pre-tax loss of £40.7m for the fiscal year to end March.

Current CEO and chairman of Flybe Jim French said, “(Hammad) brings with him a wealth of industry experience as well as a track record of leadership and board positions across a range of public and private businesses and we are very much looking forward to working with him.

“Flybe has recently updated the City on the significant progress made in its major turnaround plan which is on track to deliver over £50m 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.”

Gores has recently bought Etrali, Orange Business Services – Trading Solutions, a subsidiary of France Telecom Orange.

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