Milne, who has been serving as Flybe’s interim CFO since August, will assume the permanent role from November 1. Flybe’s previous CFO Philp de Klerk left the company last month.
Before joining Flybe, Milne spent 20 years at British Airways and International Airlines Group, including a spell as BA’s director of integration.
Christine Ourmieres-Widener, Flybe’s chief executive, said: “I am delighted that Ian is joining Flybe on a permanent basis. He brings a wealth of aviation industry experience along with strong financial management expertise.
“Ian has already made a positive impact on the business in the short time he has been working with us.”