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| Easyjet chief Carolyn McCall says Brexit pound sterling slump has cost airline £40m | Easyjet chief Carolyn McCall says Brexit pound sterling slump has cost airline £40m |
| (5 months later) | |
| Carolyn McCall, the chief executive of Easyjet, has said the cost of Brexit has already hit £40 million thanks to the sliding value of the pound after the vote on June 23. | |
| Fuel costs have increased £40 million in just four weeks because of the plummeting pound, which hit 31-year lows the week after the referendum and is trading 10 per cent below is pre-Brexit peak. | Fuel costs have increased £40 million in just four weeks because of the plummeting pound, which hit 31-year lows the week after the referendum and is trading 10 per cent below is pre-Brexit peak. |
| Easyjet pays for fuel in dollars, which makes it more expensive when the pound is weaker. | Easyjet pays for fuel in dollars, which makes it more expensive when the pound is weaker. |
| The weaker pound has also affected consumer confidence, making holidaymakers less keen to go abroad. | The weaker pound has also affected consumer confidence, making holidaymakers less keen to go abroad. |
| "If you are a passenger, you are reading every day in the papers that it is more expensive to spend money on holiday,” McCall told the BBC. | "If you are a passenger, you are reading every day in the papers that it is more expensive to spend money on holiday,” McCall told the BBC. |
| However she said that she expected demand for flights to “normalise over next few months”. | However she said that she expected demand for flights to “normalise over next few months”. |
| A weak pound will make it cheaper for passengers to fly. | A weak pound will make it cheaper for passengers to fly. |
| “It is worth pointing out that although every airline is having a tough time, it is very good news for passengers,” she told the BBC's Today programme. | “It is worth pointing out that although every airline is having a tough time, it is very good news for passengers,” she told the BBC's Today programme. |
| “It actually means it's cheaper to fly and ticket prices are low”. | “It actually means it's cheaper to fly and ticket prices are low”. |
| Airlines are facing a slew of pressures, from terror attacks in Sharm el-Sheikh, Paris and Brussels, as well as more recent events in Nice and Turkey, which put people off travelling abroad. | Airlines are facing a slew of pressures, from terror attacks in Sharm el-Sheikh, Paris and Brussels, as well as more recent events in Nice and Turkey, which put people off travelling abroad. |
| Currency and consumer issues affecting Brexit add to this stress. | Currency and consumer issues affecting Brexit add to this stress. |
| But McCall said that Easyjet would not be following the lead of rivals like Wizz who are retreating from the UK market because of Brexit. | But McCall said that Easyjet would not be following the lead of rivals like Wizz who are retreating from the UK market because of Brexit. |
| "We see an opportunity. We will continue to grow in the UK," McCall said. | "We see an opportunity. We will continue to grow in the UK," McCall said. |