Business on Brexit: What happens next?

29 Aug 2018

Investec

UK economists

How will industries like aviation and professional services be affected by Brexit? The CEOs of IAG and Lloyd’s weigh in.

Businesses agree they need more clarity on Brexit to help them prepare. But what do they think might happen next? Willie Walsh, CEO of International Airlines Group (IAG), and Inga Beale, CEO of Lloyd’s of London, share their views.
willie-walsh

Our view is that there will be a comprehensive fair transport agreement between the UK and the EU and that this will facilitate continuing development of traffic around Europe and from the UK.

Willie Walsh CEO, IAG

“What we’re expecting is that aviation will carry on pretty much as normal. The safety regulatory environment will change because the UK will leave EASA [European Aviation Safety Agency], the regulatory body. But we will still participate in the rules as a taker of the rules. So, it’s not perfect from a UK point of view, but it does mean that the safety regulations will continue pretty much as normal. Our view is that there will be a comprehensive fair transport agreement between the UK and the EU and that this will facilitate continuing development of traffic around Europe and from the UK.” Willie Walshe, CEO of IAG. Source: Sky News
Inga Beale

Professional and financial services are really not catered for at all and it's very disappointing.

Inga Beale CEO, Lloyd’s of London

"Professional and financial services are really not catered for at all [in the Chequers white paper], and it's very disappointing. We make up basically 80% of the economy of the UK. Lloyd's is to open a subsidiary in Brussels, so we will be full steam ahead, and many other banks, insurers and other financial services firms will be moving at pace now." Inga Beale CEO, Lloyd’s of London. Source: BBC
 
 
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