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01.04.2019

EasyJet blames Brexit uncertainty

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Easyjet, which is the largest operator at Britain’s second-biggest airport Gatwick, said on Monday it is «more cautious» in its outlook for the second half of the year, citing macroeconomic uncertainty and Brexit for hitting customer demand.

The airline expects a first-half loss before tax of around £275m, shares fall nearly 8%.

Stocks impacted: EasyJet (EZJ)

The company’s total first half revenue is expected to grow by around 7.3% to £2.34bn. Chief executive Johan Lundgren said that for the second half they are seeing softness in both the UK and Europe, which comes from macroeconomic uncertainty and many unanswered questions surrounding Brexit. Once Britain leaves the European Union, airlines that will not be majority owned by EU nationals face the threat of losing their right to fly within the EU due to share ownership rules, forcing the airlines to spell out their contingency plans.

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