THE chief executive of Easyjet says the airline is facing ‘the most difficult summer holiday season for years, following the fall in the value of the Brexit-hit pound and in consumer confidence after political turmoil in Turkey and recent terrorist attacks.
The low-cost carrier says it has been forced to slash fares, which are down by more than five per cent year on year, to boost demand, while costs have surged after the pound has fallen around ten per cent since the UK’s decision to leave the EU.
Carolyn McCall said that the group was battling against the toughest period in her tenure at the helm, following two months of turbulence and the EU referendum and she added that the pound’s plunge after the Brexit vote had seen a £40 million currency swing against the group, while holidaymaker confidence had also been affected by sterling’s weakness as well as the massacre in Nice and the attempted coup in popular sun-seeker destination Turkey.
The group said that revenues dropped 2.6 per cent to £1.2 billion in its third quarter, after being knocked by traffic control strikes, runway closures at Gatwick Airport and severe weather.
Subscribe to our Newsletter