flybe. (2002) (Exeter) will shed a further 500 of its 2'700 posts despite pre-tax profits of GBP13.8million (USD21.9million) for the six months to 30 September of its current financial year. Despite having already axed 490 jobs in 2012-13 and a further 100 in the first half of this year, Flybe. could be in for even more lay offs. "It was clear to me that the existing Phase 1 and 2 cost savings were necessary but we simply needed to do more and to do it immediately," chief executive Saad Hammad, said in a statement. The British regional carrier says it is in negotiations with unions and staff regarding the proposed cuts but offered no exact date as to when they would take effect. According to the BBC, pilot's union, Balpa, said it was "shocked" by the decision to cut jobs.