Pursuits
British Airways Seeks Brexit Tourism Boost as Ryanair Downbeat
- IAG pledges to keep jobs and assets in U.K., maintain capacity
- Discount rival predicts drop in fares, freezes fleet growth
British Airways Owner: More Tourists With Weak Pound
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British Airways owner IAG SA predicted a surge in inbound tourism spurred by a weakening of the pound after the U.K.’s decision to quit the European Union, just as discount rival Ryanair Holdings Plc said the Brexit vote is likely to depress demand and force carriers to cut fares.
IAG doesn’t plan to eliminate jobs or move assets away from Britain in the wake of the Brexit vote, and there will be no significant capacity cuts or fare discounting, Chief Executive Officer Willie Walsh said Tuesday in an interview in Brussels with Bloomberg Television.