Airline Shares Plummet on Brexit Fears: Airline Pulse News and Notes for June 28, 2016

Legacy Carrier Shares Down on Brexit Fears
Shares of American, Delta and United are all down this week as investors worry how Brexit will affect the Big Three. Shares are now lower than they have been at any point since 2014. Not only do the carriers fly to the UK, but American and Delta have joint ventures with major British airlines (British Airways and Virgin Atlantic, respectively).

Egypt Enlists British Firm to Help with Airport Security
Flight bans have caused tourism numbers in Egypt to plummet. The country has now hired British security firm Restrata to create an aviation security program for all the country’s major airports, including Sharm el Sheikh, which is currently off limits to many European airlines.

Schumer Calls for More FAA Inspections in NY after Small Plane Crashes
Senator Charles Schumer has called on the FAA to increase the number of inspections of small aircraft at New York area airports after a series of small plane crashed on Long Island. The Senator claims that the number of inspections has dropped by 73 percent over the past decade.

VietJet Continues to Grow
Low-cost carrier VietJet has launched a low cost subsidiary, Thai VietJet Air. It will begin by taking over the routes that its parent company already flies between Thailand and Vietnam. VietJet made a deal with Boeing for 100 new aircraft. President Obama, who was in Vietnam last month, signed the contract himself.