Low-cost airline bmi has announced plans to axe around 600 jobs as part of a restructuring plan.
The carrier, like many others around the world, has been hit by a slump in demand, higher fuel prices and increased competition.
The economic downturn has meant many airlines have been forced out of business as fewer people are travelling by air.
The restructure at bmi will see the number of aircraft reduced and it will scrap loss-making routes.
The cuts are expected to be made in all areas across the business, although compulsory job losses would be avoided wherever possible, said the airline.
However, bmi did say it hoped to grow the business again “when the economic environment improves and the market demand justifies it”.
The midlands-based airline is owned by German carrier Lufthansa AG after it took over the airline in July.
The airline, which has not ruled out further jobs, is the second-largest operator at London’s Heathrow Airport and has a workforce of 4,500.
In related news, last week budget airline easyJet posted a severe fall in profits for the full-year to the end of September.
However, easyJet said the results were “extremely resilient” and pointed out that it was one of the “very few” European airlines to make a profit in the last year.
The International Air Transport Association recently said major airlines continue to suffer amid higher fuel prices and a severe fall in passenger numbers due to the global recession.
According to the industry group, losses across the whole industry for the 2009 year could amount to £6.86 billion ($11 billion).
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