Delta Air Lines Cutting Flights to UK in Wake of Brexit
Photo courtesy of Delta Air Lines.
Delta Air Lines is cutting back on future flights to the United Kingdom in the wake of Brexit, the airline revealed Thursday.
Amid the ongoing economic uncertainty in the region, Delta plans to cut flights during its upcoming winter scheduled by as much as 6 percent, the Atlanta Journal-Constitution reported.
With the British pound having lost more than one-tenth of its value since the Brexit vote late last month, flights on routes between the U.S. and U.K. have become cheaper than in years past, ultimately cutting into the Atlanta-based carrier's revenue.
While Delta and other carriers had been benefiting from low fuel prices, those days appear to be numbered.
During a conference call with investors Thursday, Delta CEO Ed Bastian said "the reality is that the large year-over-year savings driven by fuel are behind us."
READ MORE: Airlines Have a Backup Plan Post Brexit
"We need to continue to get revenues back on a positive track."
In addition to reducing flights to the U.K., Delta is set to reel in its domestic flying later this year, citing weaker revenue from business travel, per the Journal-Constitution.
According to CNN Money, Delta made similar moves last year when it cut flights to Russia and Brazil due to currency declines.
The airline's latest move will result in a pullback of 1 percentage point of planned growth across its system for the fourth quarter of 2016, per the Journal-Constitution.
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