EasyJet to cut domestic flights after Reeves's tax raid [Yahoo! Finance]
EASYJET PLC S/ADR (ESYJY)
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Source: Yahoo! Finance
This move is expected to dampen demand and lead to a reduction in domestic flights, with easyJet planning to scale back its UK schedule and Ryanair slashing UK capacity by 10% or 5m passengers. (Source: Kenton Jarvis, easyJet's finance chief, and Michael O'Leary, Ryanair chief) EasyJet plans to reduce its domestic flights in response to the APD increase, with services linking London airports with Scotland and Northern Ireland expected to be worst hit. The airline will 'take a bit of capacity out of UK domestic' where the tax 'is going to hit both ends of those flights, if you go there and back.' (Source: Kenton Jarvis, easyJet's finance chief) The APD increase is seen as a 'tax grab' that will 'dampen demand' and is 'at loggerheads with being pro-growth'. It is also viewed as 'short-sighted' and showing 'no clue how to deliver growth in the UK economy'. (Source: Kenton Jarvis, easyJet's finance chief, and Michael O'Leary, Ryanair chief) While the UK is increasing APD, other Euro
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