europe: Current trading and future prospects have also been seriously affected by the uncertainty created by the Brexit process, which has led to our inability to secure valuable flying contracts in Europe and lack of confidence around bmi's ability to continue flying between destinations in Europe, the airline said in a statement, according to The Guardian. Against this background, it has become impossible for the airline's shareholders to continue their extensive programme of funding into the business, despite investment totalling over 40m in the last six years. The company, which employs 376 staff and operates more than 600 flights a week, said it faced several difficulties in recent weeks including spikes in fuel and carbon costs, the latter arising from the EU's recent decision to exclude UK airlines from full participation in the Emissions Trading Scheme. We sincerely regret that this course of action has become the only option open to us, but the challenges, particularly those created by Brexit, have proven to be insurmountable. Instead it was forced into an unavoidable announcement. Earlier reports had suggested that the East Midlands-based airline was looking for further funding to survive.
(news.financializer.com). As
reported in the news.
Tagged under europe, prospects topics.