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Delta Airlines Joins Major Carriers in Cost Cuts

Delta Airlines - the Atlanta-based company, has been a leader for the past 6 years in service, general revenues, and the customer service. After the Brexit vote, these airlines are taking different measures to secure their place in the Transatlantic market. Delta - was at the top of the Most Admired companies lists in 2016 by the Fortunes and ranked the first in the Business Travel News Annual Airline survey for several years. The company serves nearly 400 destinations in the 6 continents. Also, according to the June 2016 revenue report, it has a 42 mln. $ income increase comparing to June 2015. With the 80 thousand employees operating worldwide, these airlines provide a perfect service for almost 200 million customers each year. In the 2013 Delta made a strategic move to strengthen its position in the trans-Atlantic market and bought the Virgin Atlantic stake – British airlines with its head office in Crawley, United Kingdom.

However, the financial situation of the company has changed after the unprecedented Brexit vote. The Brexit vote made major enterprises respond to the foreign currency pressure. Among these transnational corporations, airlines are ranked as the most vulnerable to the situation in the aftermath of the British vote to leave the EU. Namely, officials of such giants as British Airways, RyanAir, and Delta have stated that the steep drop of the pound was a strong strike on their financial security. The geopolitical turbulence connected to Brexit forced these airlines to reduce flight capacity to the UK by 6 points. As a response to the new policies, Delta commented that with the additional foreign currency burden from the dramatic fall of the British pound and the financial insecurity caused by Brexit, Delta has decided to reduce 6 points of US-UK capacity from the schedule. Moreover, the Virgin Atlantic on the next day after Brexit made a statement, that in one night they lost nearly third of its value and lost an opportunity to negotiate an agreement, which would provide the UK with more jobs.

This is an example of one of many companies with the significant presence in the British market to take preventive steps against the consequences of the British vote. The current situation has already led to extremely low fares for the transatlantic flights. Moreover, the terrorist situation in Europe might even further shake the volatile situation for the Europe-US airlines financial cooperation. But still, Delta stays optimistic about its presence on the European market.

Delta Airlines - the Atlanta-based company, has been a leader for the past 6 years in service, general revenues, and the customer service. After the Brexit vote, these airlines are taking different measures to secure their place in the Transatlantic market.

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Assignment ID
100000810
Type
CREATED ON
July 24, 2016
COMPLETED ON
July 25, 2016
Price
$29
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reb1234
December 6, 2016
reb1234
Honest Writer and Critical thinking writer
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December 5, 2016
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