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.

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