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British airline easyJet was less resilient than its Irish counterpart amidst the turbulent headwinds that faced European aviation in 2016. The two low-cost airlines were hit hard by terrorist attacks and the slump in sterling post-Brexit, but easyJet has repeated strikes to add to its list of grievances. Furthermore, the UK’s departure from the EU is set to affect the Londonbased company even more adversely. CEO Carolyn McCall announced the creation of a subsidiary should barriers to free circulation arise, but that kind of fix would cost a pretty penny.
Ryanair managed to increase profits, but the hyper-aggressive strategy of this sector leader sometimes backfires. During the month of May, seven different pension funds worth over 300 million Swiss francs in assets under management refused to add the airline to their portfolios due to its failure to comply with labour laws. “We haven’t had a strike in 31 years,” retorted Michael O’Leary, CEO of Ryanair.