Emirates sees euro in freefall, flights flatlining after Brexit

Emirates President Tim Clark said British and European passenger growth would probably stall and the euro enter “freefall” should the UK vote to exit the EU in a June 23 referendum. Clark, educated in Britain and recently knighted, said he can’t himself vote after living outside the country for an expended period, but hopes “sense will prevail” and that the instability and volatility of the UK leaving the 28-nation bloc will be avoided. “If the Brits decide to exit the EU the shock waves throughout the EU will be pretty severe,” he said. “For somebody who’s running a business that has very, very high demand in our European countries and cities, to see a destabilisation wouldn’t serve any purpose at all.” Europe accounts for between 30 and 40% of traffic at Emirates, Clark said, predicting demand will temporarily “flatline” at best, compounding increasing uncertainty in the region from an immigration crisis and a spate of terrorist attacks. Lufthansa CEO Carsten Spohr also predicted that demand would flatten out in the event of a Brexit.<br/>