International Airlines Group, parent of British Airways and Iberia, said Friday that it “no longer expects to generate an absolute operating profit increase similar to 2015,” due to market volatility following the U.K.’s vote to leave the European Union.

Leading up to the U.K. referendum, IAG said that it encountered “a weaker-than-expected trading environment.”

Long term, IAG said the U.K.’s vote to depart the EU would not have a material impact on its business.

U.K.-based low-cost carrier EasyJet similarly said that Britain’s EU exit wouldn’t have a long-term impact on earnings growth. The airline’s initial focus is ensuring that the U.K. remains part of the single EU aviation market, “given its importance to trade and consumers,” said EasyJet CEO Carolyn McCall.

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