Flybe chief executive Saad Hammad quits

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Flybe chief executive Saad Hammad has stepped down unexpectedly after three years in the role.

The Exeter firm said he had left "with immediate effect" and it was "time for a new CEO to lead the next phase of Flybe's long-term development".

He will be on gardening leave on his salary of £433,500 until October next year, the firm said.

The news led to a fall of about 3% in the Flybe share price, which has since recovered some of that loss.

He joined the airline in August 2013, but the firm has struggled financially, booking a £35.6 million loss last year before swinging back into a £2.7 million profit in 2016.

Mr Hammad said he was "very proud" of being behind a "major turnaround in Flybe".

More on the Flybe story, plus more Devon and Cornwall news