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EasyJet looks into moving HQ from UK following Brexit vote - reports

Published 01/07/2016

EasyJet will lobby British and EU governments to retain the status quo in the aviation market
EasyJet will lobby British and EU governments to retain the status quo in the aviation market

EasyJet is said to be in talks about relocating its headquarters away from the UK.

The budget airline is reportedly in talks with aviation regulators from EU members states about moving its headquarters overseas following the shock decision for the UK to leave the EU.

EasyJet executives have held preliminary talks with several members states about issuing an air operator's certificate, enabling it to move its headquarters, Sky News reported.

EasyJet has been contacted for comment.

Easyjet was one of the biggest losers on the FTSE 100 in the aftermath of the referendum. Shares dropped more than 20 per cent on the Monday after the vote to hit 1,020p.

In a warning to investors, Easyjet said the vote would cause "economic and consumer uncertainty".

It joined IAG, the owner of British Airways, and Aer Lingus, in warning that a drop in travel demand and a slide in the value of the pound could hurt earnings for the rest of the summer.

Easyjet said that revenue per seat in the second half of 2016 will be down by “at least a mid-single digit percentage” compared to the second half of 2015.

Carolyn McCall, EasyJet chief executive, was a vocal opponent of the Leave campaign in the months before the referendum.

She argued in op-eds and interviews that Brexit could herald a return to the days when flying was "reserved for the elite".

"How much you pay for your holiday really does depend on how much influence Britain has in Europe," McCall said.

Easyjet shares were trading up 1.71 per cent on the day at 1,104.60 on Friday lunchtime.

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