La Compagnie.
Skift: You pulled out of London’s Luton Airport in September. Why didn’t London to Newark work?
Frantz Yvelin: London did work. We were at 77 or 78 percent load factor over the past four months. But on the 24th of June, the British people decided to leave the European Union. This is what has been called by media as Brexit. I respect the choice of the British people. I don’t think it is necessarily a good one, but it is their choice. Now, in our case, we needed to decide whether to keep investing in a market in which we are not absolutely certain where we could stay beyond two years. We are now benefiting from an open skies agreement signed between Europe and the USA. With all that in mind, that creates a mass of uncertainty, and a lack of visibility. It is impacting the entire sector.
We did a deep analysis of every single point, and our conclusion was very clear. We do believe in the British market. We believe in London. But the main problem is that I cannot keep investing into an environment in which I am not sure I will have a place within two years. Clearly, Brexit was not in business plan.