Jens Flottau
Even though timing and conditions of Brexit are unclear—as is its impact on air transport regulation—UK airports and airlines say they are already feeling a substantial negative effect on their business.
The impact of Brexit comes in various different ways, Stansted Airport CCO Aboudy Nasser said. He pointed at forecasts that the UK’s GDP will grow 35% less over the next ten years than before the referendum. At the same time, real wages are at their lowest since 2008 and household expenditure is exceeding income for the first time in 30 years. “People just don’t have money to spend on travel,” he said. Also, business investment has turned negative.
[Source: Aviation Week]
