EasyJet takes US$53m hit after Brexit
EasyJet has taken a GBP40m (US$52.5m) currency hit because of the devaluation of the pound since the UK voted to leave the EU June 23. EasyJet warned the economic and operating environment is “difficult and uncertain” as it enters its final quarter. “The most tangible effect [of Brexit] has been the devaluation of the pound both against the dollar and euro,” EasyJet CE Carolyn McCall said. “The swing from June 23 against us on our unhedged [currency] is GBP40m. That’s just since June—in the last 4 weeks—so that’s quite significant.” EasyJet added that it is “mobilised and actively engaging with regulators” over European flying rights. If the UK does not remain in the deregulated European aviation market, EasyJet’s contingency plan to obtain an EU air operator’s certificate is “well-developed.” <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-07-22/unaligned/easyjet-takes-us-53m-hit-after-brexit
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EasyJet takes US$53m hit after Brexit
EasyJet has taken a GBP40m (US$52.5m) currency hit because of the devaluation of the pound since the UK voted to leave the EU June 23. EasyJet warned the economic and operating environment is “difficult and uncertain” as it enters its final quarter. “The most tangible effect [of Brexit] has been the devaluation of the pound both against the dollar and euro,” EasyJet CE Carolyn McCall said. “The swing from June 23 against us on our unhedged [currency] is GBP40m. That’s just since June—in the last 4 weeks—so that’s quite significant.” EasyJet added that it is “mobilised and actively engaging with regulators” over European flying rights. If the UK does not remain in the deregulated European aviation market, EasyJet’s contingency plan to obtain an EU air operator’s certificate is “well-developed.” <br/>
