Aviation news analysis
50 SKY SHADES - World aviation news

IATA Report: The impact of 'Brexit' on UK Air Transport

Download: Printable PDF Date: 24 Jun 2016 13:55 category:
Publisher:
IATA Report: The impact of 'Brexit' on UK Air Transport - Airlines publisher
Tatjana Obrazcova
Country: United Kingdom Aircraft: Airplanes

The International Air Transport Association (IATA) released preliminary analysis of the financial and economic impact of the Brexit decision on the air transport industry.
“The Brexit vote has triggered much uncertainty—financial and otherwise. As leaders in the UK and the EU work to establish a new framework for their relationship, one certainty to guide them is the need and desire of people on both sides of that relationship to travel and trade. Air transport plays a major role in making that possible. There were 117 million air passenger journeys between the UK and the EU in 2015. Air links facilitate business, support jobs and build prosperity. It is critical that whatever form the new UK-EU relationship takes, it must continue to ensure the common interests of safe, secure, efficient and sustainable air connectivity,” said Tony Tyler, IATA’s Director General and CEO.

The main points of the report are:

The UK has voted to leave the EU – the so-called ‘Brexit’ scenario. Considerable uncertainty remains regarding the precise detail of the exit and it could be 2 years or more before these issues are fully resolved; prolonged uncertainty will influence both the magnitude and persistence of the economic impacts.
Preliminary estimates suggest that the number of UK air passengers could be 3-5% lower by 2020, driven by the expected downturn in economic activity and the fall in the sterling exchange rate. The near-term impact on the UK air freight market is less certain, but freight will be affected by lower international trade in the longer term.
A big issue is with aviation regulation. The UK faces a trade-off between accessing the European Single Aviation Market and having the policy freedom to set its own regulations.



Loading comments for IATA Report: The impact of 'Brexit' on UK Air Transport...


Recommended

CAAC, EASA, ICAO Technology Sharing 4th Civil Aviation Training Industry Forum 2018 was successfully held

The "13th Five-Year Plan" and the "Belt and Road" strategy of the country's layout have provided unprecedented opportunities for development and a good environment for the Chin...

Dassault Falcon 8X in the spotlight at MEBAA 2018

Ultra-long range Falcon 8X, new Falcon 6X driving Middle East sales. Dassault Aviation will highlight its ultra-long range Falcon 8X and new Falcon 6X ultra widebody twinjet at the Middle East &...

Successful year of Falcon Aviation Highlighted at MEBAA 2018

New Dubai DWC facility shaping up to be Premier Business Jet MRO base Formal opening of DWC MRO hangar in Q1 2019 Formulates Turboprop Aircraft MRO at Al Bateen, Abu Dhabi  Falcon Avi...

Boeing Delivers First 787-9 Dreamliner for Royal Air Maroc

Larger and longer-range Dreamliner to help airline expand service to Europe, United States, Latin America Morocco's flag carrier unveils new interior and special livery on inaugural 787-9 Bo...