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INDUSTRY LEADERS RESPOND TO THE UK REFERENDUM VOTE TO LEAVE THE EU INTERNATIONAL AIRLINES GROUP (IAG) believes that the vote to leave the European Union will not have a long- term material impact on its business. In the short term, however, in the run up to the UK referendum during June, IAG experienced a weaker-than-expected trading environment. Following the outcome of the referendum, and given current market volatility, while IAG continues to expect a significant increase in operating profit this year, it no longer expects to generate an absolute operating profit increase similar to 2015.


Enrique Dupuy de Lome Chief financial officer, IAG


FOLLOWING THE UK’S DECISION TO EXIT THE EU, it is important for the business travel community to remember that nothing is going to change overnight. The EU, the UK and our sector are now facing a period of uncertainty. There will be a prolonged period of negotiating the UK’s exit from the EU, during which time we expect conditions for travellers to remain the same. It is now incumbent upon travel management companies to help customers navigate through this period of uncertainty and to simplify any complexity that arises from the separation.


Jason Geall


UK vice-president and general manager,


American Express GBT BUYINGBUSINESSTRAVEL.COM


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BBTWEETS


Travel tweeters: follow us on @BBT_online and @TravelbizPaul


@jensstoltenberg UK remains a strong Ally. #NATO more important than ever for cooperation among Europeans and with North America


@pawait


Bit of a shock for London that it does not speak on behalf of the UK! #Euref


@MLP_officiel Victory for freedom! As I have been asking for years, now we need to have the same referendum in France and in the countries of the EU


@bbclaurak Sturgeon says ‘democratically


unacceptable’ to be taken out of EU having voted In – says she’ll prepare legislation for 2nd indyref


@richardbranson


Leaving the EU is a very sad decision that will do huge damage to Britain’s prosperity & Europe’s stability


@bryony_gordon The social media whinging from Remainers is already unbearable bit.ly/28RAlW7


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 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. Carolyn McCall CEO, Easyjet


IT CANNOT BE DOUBTED THAT WE ARE NOW MOVING into a period of uncertainty, although in regulatory terms we will not see any immediate changes. Once the UK formally notifies the EU of its intention to leave, the remaining member states will have up to two years to offer the UK a deal for a future trading relationship. This period can also be extended if all parties agree. We started this process some months ago, with a programme of engagement with ‘leave’ campaigners in Westminster,


THE UK TRAVEL MANAGEMENT COMMUNITY NOW FACES A PERIOD OF UNCERTAINTY. ITM and its members will now be focused on the potential ramifications of Brexit to the managed travel sector, and we will be prepared to advise and facilitate the education of the implications to the industry.


Simone Buckley Chief executive, ITM


and we have prepared a detailed list of policy and regulatory priorities that we will be discussing with leading policymakers in the coming weeks. ABTA (Association of British Travel Agents)


THIS VOTE HAS CREATED, FIRST AND FOREMOST, a lot of uncertainty about the future of the UK, the EU and Europe as a whole. For a business such as BMI Regional, being heavily influenced by the freedom of trade and traffic, this uncertainty will undoubtedly add a layer of complexity to our business.


BMI Regional will


keenly monitor developments over the coming weeks and months to assess the challenges and opportunities they will create for the business. It is, however, safe


to say, that our continued business domicile as a UK entity is less than clear at this point in time. Over the last 18 months, BMI Regional has significantly grown its activities outside the UK and we see further sizeable opportunities to continue this pan-European growth. Should the dynamics that unfold prove too challenging for BMI Regional to pursue these opportunities, our base as a UK airline may have to be reviewed. Any decision regarding a move to another domicile will not be taken lightly and will be carefully considered.


Peter Simpson CEO, BMI Regional


BBT JULY/AUGUST 2016 93


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