Monarch Air boom shows Brits getting over Brexit blues: CEO


LONDON: A surge in demand for Mediterranean holidays suggests Britons are coming to terms with a weaker pound and the threat of terrorist attacks, according to Monarch Airlines Ltd., the UK’s second-biggest leisure carrier.

Vacation bookings for summer 2017 are up 40 percent, Monarch reported Friday. While the increase may have been enhanced by lower sales during this year’s peak season, when the Luton, England-based company was struggling to secure new financing, the improvement stems mainly from “external” factors, Chief Executive Officer Andrew Swaffield said.

“Britons tend to be quite resilient,” he said. “Some people changed their plans in 2016 due to the combination of terrorism and the exchange-rate fluctuation, but they’re bouncing back in 2017. I think they’re getting used to it.”