EasyJet CEO Says Brits Adapting to ‘New Normal’ of Brexit Chaos

(Bloomberg) -- U.K. citizens are learning to live with uncertainty surrounding Brexit and making travel plans without worrying too much about the future, according to the head of EasyJet Plc, Britain’s biggest low-cost airline.

“If a situation continues for an extended period of time it becomes the new normal,” Chief Executive Officer Johan Lundgren said Thursday in a Bloomberg TV interview. “I think it’s better to have certainty, but the longer the uncertainty goes on, people get used to it. They won’t stop flying or doing business.”

Years of preparation mean EasyJet is already operating as if a no-deal split from the European Union had happened, he said at the World Aviation Festival in London. It will carry on as usual whatever the outcome of wrangling over whether Britain should crash out on Oct. 31.

The bigger concern is how a hard Brexit would impact the economy and jobs, the CEO said, especially with a weaker pound potentially weighing on the spending power of Britons abroad. At the same time, fares are low enough that travel will remain relatively affordable, and governments could provide stimulus if the split hits growth, he said.

EasyJet’s multi-base structure means it can easily shift planes and capacity between markets if necessary, he said. Demand has been solid over the summer, aided by a surge in late leisure bookings, albeit against the background of a softer yield or fare environment.

To contact the reporters on this story: Christopher Jasper in London at cjasper@bloomberg.net;Guy Johnson in London at gjohnson87@bloomberg.net

To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Christopher Jasper, Tara Patel

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