New chief executive appointed at Flybe

<p>Flybe’s new chief executive is Saad Hammad.</p>

The share price of airline Flybe has risen after the company revealed it has appointed Saad Hammad as its new chief executive.

It announced Mr Hammad, who has been a non-executive director of Air Berlin and is a former chief executive of rival firm easyJet, will start in his new role on August 1st.

"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," said Mr Hammad.

He added the airline is already making "excellent" progress on its business turnaround plan.

Investors responded positively to the news Flybe is appointing a new chief executive and its share price jumped today (July 3rd).

This afternoon, its stocks were selling for 49.40, up by more than six per cent on the start of the day's trading, However, they had fallen from the day's high of 51.37.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.