It has been more than two years since the controversial topic of Brexit first entered the public conversation. Now, the consequences of Brexit has begun to appear. Recently, British Mindline International, as known as BMI, declared its bankruptcy. This sudden announcement by the airline impacted lots of people greatly, including employees and passengers. The company blamed the Brexit for impeding their effort to profit, due to various factors such as the dramatic increase in fuel and carbon costs for operating the aircraft and uncertainty in terms of current trading and future prospects. As a small airline, BMI found it harder to keep running in the low-cost competition. The political turmoil of Brexit plays a more vital role in BMI’s bankruptcy than anything BMI did.
Unfortunately, BMI will not be the only business experiencing tough times–and more serious impacts are still to come. Two years ago, many Brits voted without much consideration, and some did not even understand what they were voting for. They failed to realize how crucial the EU was to them, and for various reasons they were still in the delusion that the sun of their kingdom would never set. The reckless decision of Brexit made by the United Kingdom and its citizens will eventually lead to some tough times not too different from those experienced by BMI.
Featured Image via Tommy Desmet