120 jobs are set to be cut by EasyJet at the East Midlands Airport as the low-cost carrier announces it was pulling out.

The airline claims to be moving its base to a more profitable airport because the revenue from the Castle Donington airport had been stagnant for many years.

The carrier has initiated a 90 day consultation with its staff at the airport and Luton airport, were the airline planes to cull 20% of flights.

The news comes just days after low-cost rival Jet2.com said it will be ramping up operations at East Midlands airport that will ultimately create 250 jobs.

EasyJet said that the situation was also made worse by the increases in Airport Passenger Duty.

The airline presently flies 10 routes from East Midlands to destinations such as Alicante, Barcelona, Faro, Geneva, Ibiza, Majorca, Malaga, Nice, Prague and Venice.

The airline is also reportedly looking at making further staffing cuts at Belfast, Bristol, Newcastle and Standsted.