‘Wait and see’ over EU vote

UK airlines and others in the industry were rallying round yesterday in the aftermath of the Brexit vote, with companies adopting a wait-and-see attitude to future events.

IAG, which owns British Airways, Aer Lingus, Iberia and Vueling, said it did not expect the Leave decision to have a large effect, though it would impact profits in the short term.

Ryanair and EasyJet, whose existence is owed to the EU single aviation market, claimed Brexit would not affect their operations, though Ryanair sought to make political capital by saying its post-referendum sale of seats from £9.99 was likely to be “the last of its kind”.

EasyJet said its first priority would be to persuade the UK and EU governments to ensure the UK remained part of the single EU aviation market. 

In a statement, the airline said it was confident the vote would not have a “material impact” on strategy or its ability to deliver long-term sustainable earnings growth.

Reaction elsewhere was more mixed, with observers noting the vote and the resignation of David Cameron would again delay a decision on a third runway for Heathrow, which had been expected early next month. 

However, John Brennan, CEO of hotel investment and hospitality group Amaris Hospitality, said while Britain was entering “a period of uncertainly” as it prepared the ground for Brexit, “the hospitality sector is well-placed to remain robust during this period”.

www.iairgroup.com

www.ryanair.com

www.easyjet.com

www.amarishospitality.com

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