22-May-2018 1:15 PM

Ryanair outlines Brexit plans, applies for UK AOC

Ryanair outlined (21-May-2018) its Brexit position and plans as follows:

  • Ryanair remains concerned at the "likely" impact of a 'hard Brexit'. While there is a general belief that an 18 month transition agreement from Mar-2019 to Dec-2020 will be implemented and further extended, Ryanair believes it is in the best interest of its shareholders to plan for a hard Brexit eventuality in Mar-2019;
  • It is likely that UK shareholders will be treated as non EU, potentially affecting Ryanair's licencing and operational rights. Ryanair intends to restrict the voting rights of all non EU shareholders in the event of a hard Brexit to ensure the company is majority owned and controlled by EU shareholders at all times to comply with EU licences;
  • Ryanair also applied for a UK AOC which it expects to receive before the end of 2018. [more - original PR]

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