DUBLIN – The pound is plummeting and it’s taking Ryanair down with it.

The popular low-cost ******* said Tuesday that its full year profit will be 5% lower than previously expected, reports CNN Money. CEO Michael O’Leary, who campaigned for ******* to remain in the European Union, attributed the decline to the low value of the pound.

Although Ryanair books its profits in euros, more than a quarter of its revenues are made in pounds. Since the U.K. voted to leave the EU in June, the pound has lost roughly 15% against the euro and 19% against the U.S. dollar.

Ryanair was one of a handful of carriers that lobbied against Brexit, saying that leaving the EU would lead to higher fares. After the vote, the ******* said it would “pivot its growth away from U.K. airports” and focus more on growing at its European airports over the next couple of years.

Low-cost competitor easyJet reports similar troubles. Earlier this month, the ******* told investors that its annual profit will fall by more than 25% and that the weaker pound is increasing the cost of buying *** fuel.