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LONDON (Alliance News) - easyJet PLC on Friday said the UK's decision to leave the European Union will not have a material impact on its strategy or ability to deliver long-term sustainable earnings growth and returns to shareholders.
The low-cost airline said it had been preparing for this eventuality in the lead up to the referendum vote and has been working on a number of options that will allow it to continue flying in all of its markets.
easyJet said its initial focus will be to accelerate discussions with the UK and EU governments and regulators to ensure the UK remains part of a single EU aviation market.
This would enable EU airlines to fly freely within the UK and between the UK and EU, allow UK airlines to fly freely across Europe, and would ensure that consumers continue to benefit from low fares, enabling easyJet and other airlines to continue operating as they do now.
"We remain confident in the strength of easyJet's business model and our ability to continue to deliver our successful strategy and our leading returns. We have today written to the UK Government and the European Commission to ask them to prioritise the UK remaining part of the single EU aviation market, given its importance to trade and consumers," Chief Executive Carolyn McCall said in a statement.
Separately, commercial passenger aircraft leasing company Avation PLC said it "observes the outcome of the referendum" and reminds shareholders that its revenue, aircraft assets and associated borrowings are denominated in US currency, while having no exposure to GBP derivatives.
Shares in easyJet were trading down 16% at 1,290 pence on Friday morning, while Avation shares were down 5.2% at 129p.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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