The favorable exchange rate has made a trip to Britain more affordable. But catching a flight might be more challenging in the wake of "Brexit."
Now might be a good time to visit the United Kingdom, as the British pound has lost value since the U.K. opted to leave the European Union.
But before you can take advantage of the more favorable exchange rate, you’ll need to catch a flight — which might be more challenging in the wake of “Brexit.”
Delta Air Lines announced Thursday that the company will reduce U.S.-to-U.K. flying capacity for its winter schedule, citing “persistent headwinds from close-in domestic yields and geopolitical uncertainty.”
This change is designed to help the publicly traded company ensure it meets its “goal of positive unit revenues by year-end.”
Glen Hauenstein, Delta president, explains:
“We’ll continue to move quickly and aggressively with all our commercial levers … to make sure we create the momentum we need to achieve this goal.”
News of the U.S.-to-U.K. flying capacity reduction came out as part of a quarterly profit report, which notes that currency fluctuations have been affecting Delta in others ways as well. For example:
- Operating revenue for Delta’s latest quarter decreased 2 percent, or $260 million, with $65 million of that decrease “due to foreign currency pressures.”
- Passenger unit revenues decreased 4.9 percent despite a capacity increase, with 1 point of that decrease “from foreign currency.”
To learn more about Brexit has affected Americans, check out “Brexit Panic — Should You Sell Your Stocks?”
What’s your take on Brexit’s impact on the U.S. so far? Do you feel affected positively or negatively? Let us know by dropping a comment below or over on our Facebook page.