Channel Tunnel operator: ‘no-deal’ Brexit now main scenario

International

A Pro-European Union supporter with his face painted in the colours of the European Union Flag, takes part in the March for Change, in London, Saturday July 20, 2019. (Aaron Chown/PA via AP)

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LONDON (AP) — Channel Tunnel operator Getlink is warning that Britain’s departure from the European Union without a deal is now “very likely” and is its main scenario as it forecasts earnings.

The operator says its outlook for earnings before interest, tax, depreciation and amortization in case of a “no-deal” Brexit is 560 million euros ($626 million).In the case of a deal, it’d be 575 million euros.

The results come before the conclusion of the contest to lead Britain’s Conservative Party. Frontrunner Boris Johnson has vowed Britain will quit the EU on Oct. 31 even if it means leaving without a divorce deal.

Getlink CEO Jacques Gounon says “the absence of an agreement on Brexit on 31 October is becoming very likely, the reference scenario for 2019 is now the ‘no-deal’ one.”

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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