unaligned

Ryanair CE Michael O’Leary said the fallout from Britain’s decision to quit the EU will weigh on the carrier’s profit for as long as 4 years. The process of the UK negotiating its way out of the bloc, which could take 2 to 4 years, is set to depress yields the CE said Tuesday. O’Leary stuck to forecasts for profit in the current fiscal year of E1.38b (US$1.55b) despite the risks posed by the aftermath of the ballot. “The outlook for the UK economy is poor,” O’Leary said. “This will mean slower GDP growth in the UK and European economies.” The carrier has already put in place contingency plans including shifting growth away from the UK for the next 2 years, affecting its base at London Stansted already this winter season. As part of the adjustments, the carrier won’t be assigning any of about 50 new aircraft due for delivery this year to UK routes. <br/>

Tianjin Airlines has opened a branch company in Guizhou in an effort to expand its market share in West China. The carrier had already established 3 branch companies in Xi’an, Inner Mongolia and Xinjiang. In July, the company secured CAAC approval to launch one in Guizhou. Tianjin set up an operating base in Guizhou at 2013 and has allocated 5 aircraft—which include Embraer E190s, Airbus A320s and A330s—to operate on more than 20 destinations. In 2015 the company transported 780,000 passengers, becoming the fourth biggest carrier in terms of market share in Guizhou. Tianjin Airlines marketing director Li Wenbin said the carrier would open more international routes from Guizhou to Southeast Asian countries and ASEAN, including intercontinental routes. <br/>