EasyJet today pledged to act to address any risks that may emerge as the result of a no deal Brexit.
The budget carrier has spent two years preparing for the UK’s exit from the EU.
However, giving a detailed update on Brexit preparations to shareholders at the easyJet annual meeting, chairman John Barton said: “While we are operationally well prepared, as we get closer to Brexit we remain focussed on the broader external risks that could emerge, in particular in the event of a ‘no deal’ Brexit.
“These risks may be sector and/or non-sector specific and their impact is, by definition, less certain.
“This would include any impact on consumer confidence or the potential cost and operational impacts arising from increased friction in travel between the EU and the UK.
“Our focus remains on monitoring any such risks and being as ready as possible to put in place scenario plans to address them.”
The airline remained confident of its ability to continue flying whatever the Brexit outcome.
“We have been focused on ensuring that the right to fly remains between the EU and the UK, so that both our UK and Austrian operating airlines are able to operate between the UK and the EU,” said Barton.
“We remain confident that this will be the case in a ‘no deal’ Brexit situation, following the draft proposals from the European Commission, and given the UK’s stated intention not to put in place any restriction on flights to the UK from the EU.
“To allow us to continue flying within Europe after Brexit, we are required to ensure ongoing compliance with EU ownership and control requirements.
“To this end, our active investor relations programme continues to focus on Europe and we have now increased our EU ownership to 49%.
“This level of EU ownership is only marginally below the 50% plus 1 share that would be required if there is a ‘no deal’ Brexit and there is no adjustment period for compliance with EU ownership requirements.”
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