The timing of the first WIT Europe in London held recently could not have happened at a more poignant time in the city’s history and travel industry leaders, while grappling with uncertainty, agreed there couldn’t be a better time than now to seize the Asia opportunity.

Every speaker expressed their dismay at the UK decision to leave the EU, with the consensus that the implications will be felt globally, including Asia.

Right: Kenny Jacobs: “If the EU leaves the single market then we have a lot of complications.”

Kenny Jacobs, chief marketing officer of Ryanair, who had to cancel his appearance at the event citing “having to deal with the fallout of Brexit”, sent this message, “Ryanair, as with all airlines, are disappointed with the referendum result. For the next few months it’s business as usual as Europe and Britain will go on their holidays. After the summer we could be facing a long period of uncertainty as UK politics is in turmoil and the new UK government will have to negotiate the exit with the EU, the single biggest issue for the entire travel business will be maintaining the single market.

“If the UK stays in the single market then things should continue as normal and the UK will stay part of open skies, if the UK leaves the single market then we have a lot of complications.

“We are hopeful and we expect both sides will find a way to maintain the free movement of people. But while the is uncertainty and currency fluctuations businesses including ourselves will be slow to make additional investments in the UK. We have 50 new aircraft joining our fleet next year and we now don’t expect to deploy any of these in the UK market at this stage, instead we will focus on markets that are part of the single market like Italy, Spain and Germany.

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