Easyjet Bookings Down After Brexit

21 July 2016, 11:21

EasyJet says its facing its most difficult summer holiday season for years - as bookings fall after the Brexit vote.

The Luton based airline says they're down 10%.

Reduced passenger confidence after terrorist attacks in Europe and political problems in Turkey is also being blamed.

Boss Carolyn McCall said the group was battling against the toughest period in her tenure at the helm, following two months of turbulence and the EU referendum.

She said the pound's plunge after the Brexit vote had seen a #40 million currency swing against the group, while holidaymaker confidence has also been impacted by sterling's weakness as well as last week's massacre in Nice and the attempted coup in popular sun-seeker destination Turkey.

The group said revenues dropped 2.6% to #1.2 billion in its third quarter, after being knocked by traffic control strikes, runway closures at Gatwick Airport and severe weather.

Shares dropped 6% after the gloomy update.

EasyJet has seen its stock tumble after warning last month that it would take a #28 million hit to profits following two months of turbulence and cautioning that Brexit would have a negative impact on the airline.

The group is also drawing up plans to potentially move its legal headquarters out of the UK and into Europe if the Government cannot negotiate to retain the status quo in the aviation market, which allows operators to fly across the continent in a deregulated environment.

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