We all know by now what’s going wrong with the pound in this country. It’s crunching by the day and by the time this is published we might be in the depths of a recession. The strength of the pound against the Euro resembles David and Goliath. This has resulted in a noticeable drop in the number of people going abroad on their holidays and also a noticeable number of people coming to the UK for their holidays to take advantage of the crazy exchange rate. What has this meant for the airports in the UK? It’s meant they’re overcrowded with incoming flights.
Jet2, which is a budget airline and flies into six UK airports, has seen an 8% percent rise in inbound traffic this year so far. It has meant that there is a shortage of hotel rooms and overcrowded tourist attractions but then UK based airlines are making quite a profit out of it.
The European airlines are in a much stronger position to offer new affordable deals for passengers. Their greatest asset is the fact that they are buying fuel in Euros but which is priced in dollars and so are getting a lot more for their money than anyone else in the world at the moment.
Across the Atlantic in the US, the dollar is in the doldrums too and so many Americans airlines are shelving their plans for new services and routes for the time being, whereas the European airlines such as Air France, Iberia and KLM are flying high with their business.