Ryanair, Brexit, O'Leary, shareholders, sell, UK, EU, deal, shares, citizen

Ryanair may force UK shareholders to sell

CEO Michael O’Leary believes such a move may arise to avoid Ryanair being grounded after Brexit.

Ryanair says it may have to force its shareholders in the UK to sell their shares in the airline to avoid it being grounded after Brexit.

Flights of Ryanair and other airlines could be grounded from April 1 next year, chief executive Michael O’Leary believes, which is when the UK quits the European Union, at least for a short period, unless a UK-EU deal is struck.

Under EU rules, Ryanair must show regulators that the majority of investors at the Irish airline are EU citizens. Europeans make up 56% of the airline’s shareholders, but 20% are from the UK, the newspaper the Sunday Times reports.

O’Leary is examining ways of giving incentives to non-EU investors to persuade them to dump their shares, he told the newspaper. He added that he would force a sale if necessary.

Ryanair has also applied for a British air operating certificate in order to continue operating domestic UK flights.

The UK’s transport secretary, Chris Grayling, insists there will be no such problems for airlines next spring, but a deal has still not been struck with the EU to avoid any potential disruption.

Related stories

Brexit may wreck London for business travel

Brexit uncertainty among travel businesses

What Brexit means for travel and tourism


Check Also

Emirates, Ryanair, Flybe, Austrian, Virgin, British Airways, easyjet, American Airlines, airlines, load factor, PLF, fullest, planes, aircraft, environment, business, profit

Airlines with best and worst load factor

Flying planes full makes airlines far more profitable, and it’s better for the environment.

Norwegian, loss, profit, revenue, 2017, year, quarter, costs, oil, fuel, Kjos, result

Norwegian posts €30.7mn full-year loss

The negative result was influenced by global expansion, fleet renewal and other costs.

Norwegian, low-cost, Kjos, Boeing 787, Dreamliner, Airbus, A321neo LR, Singapore, Asia, Argentina, South America, plans, strategy, UK, London, speech, Shard, transatlantic, long-haul, USA, Detroit, Philadelphia

Norwegian plots global expansion

But it is putting the UK first. It makes the first low-cost long-haul flight to South America today.

TUI, brand, Q!, result, seasonal loss, Fritz Joussen, Nordics, excursions, activities, stream, finance, accounts, ebita

Tui boosts activities and excursions, improves seasonal loss

The operator wants to raise its turnover and profit from transfers, activities and excursions, calling them a key growth area.

Ryanair, CPH, Copenhagen, Kaunas, Lithuania, base, open, reopen, aircraft, flights, low-cost, unions, Danish, Eddie Wilson

Ryanair to return to Copenhagen?

A representative of the low-cost carrier meets Danish unions ahead of setting up a possible base.

Rail Baltica, Baltic, Helsinki, rail, Berlin, Europe, EU, high-speed, train, Estonia, land

Tenders push Rail Baltica into design phase

Designing stations, gathering more millions in funding and buying land where the line will run are all starting to happen.