Jet2 boss warns Europe flights could get more expensive after Brexit

The chief executive said the airline would consider adding more flights to non-EU destinations

Jet2 boss Steve Heapy has warned that flights to Europe may become more expensive after Brexit, and that a no-deal scenario would prove “extremely damaging” for the UK and EU.

The chief executive of Jet2 and Jet2holidays added that travel could become more heavily regulated for operators after the UK leaves the European Union.

“The worst thing that could happen is that we’re not able to fly to Europe,” he told PA. “I think the chance of that happening is extremely low.

“I think we’ll end up with something in the middle whereby we’re able to fly into Europe, but I think it might be more expensive and there might be more restrictions.”

The airline has planned for various Brexit outcomes, and has mooted adding more flights to countries outside the EU, such as Turkey, in a worst-case scenario.

However, Heapy said the EU has “a lot more to lose than we do” from a situation where the UK crashes out without a deal, due to the high number of British holidaymakers who boost European economies through tourism.

This is particularly key for countries like Spain, which welcomed more than 18 million British visitors in 2017; UK travellers make up 23 per cent of all foreign tourists.

Jet2 currently operates the UK’s third largest airline and second biggest tour operator, achieved through organic growth, according to Heapy.

“We don’t go for all-out growth,” he said. “I think that’s very dangerous in a business where you just want growth for the sake of it.

“We are growing because customers are finding Jet and Jet2.com holidays and booking them and having a good time and rebooking them. The growth is a result of success in providing a quality product.”

Heapy added: “We have a very healthy bank balance and if it comes to a tough time where business perhaps is lower than normal, we have a lot of cash in the bank and will be able to continue operations for significantly longer than a number of our competitors.”

Last year saw the failure of several airlines, including Primera, Air Berlin and Cobalt, while Flybe was recently bought by a consortium led by Virgin Atlantic.