La Compagnie pulls UK-New York route
Boutique business-class airline La Compagnie has blamed Brexit for the decision to suspend its UK-New York route 16 months after launching.
The company’s ‘London-New York’ service launched in April 2015, operating between Luton and Newark airports.
La Compagnie said it will no longer operate the service as of September 25, because of ‘a new economic climate in Europe, fuelled by Brexit, that has already affected various significant players within the airline industry’.
Instead, La Compagnie will ‘intensify its presence on the Paris-New York route’ with the introduction of a second daily service from the French capital, starting in October.
CEO Frantz Yvelin said the Paris route had been ‘a tremendous success’ and the decision to scrap the UK route had not been taken lightly, but described the economics of the route as ‘fragile’. Load factors averaged around 77% since June.
Yvelin said: "This has not been an easy decision for us to make but we would like to emphasise that this is the suspension of, not the cancellation of, the London-New York route.
"We are the firmest believers of the UK’s unique market position, hence the decision to invest heavily in our London route for the past 16 months.
"Meanwhile, the result of the EU referendum has created an unprecedented level of legal and economic uncertainty for airlines that service Great Britain.
"Hence, our decision to accelerate development on our Paris-New York route where loads are already 80%+ as we recognise the increasing market demand in both the corporate and leisure segment.
La Compagnie will operate its last round-trip flight between Luton and Newark on Saturday 24 September 2016.
Customers booked to travel beyond that date will get a full refund or will be given the option to rebook onto the Paris-New York route free of charge.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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