British Airways owner stops selling its shares to non-EU citizens as no deal Brexit looms


IAG (Foreign Airlines Group) is freezing the percentage of its shares that can be held by those outward the bloc at its current level of 47.5 percent. This intervention was put in classify as under EU rules, the airline could only allow the figure to make good to just below 50 percent. The UK’s default position remains to lose the European Union on March 29, whether a withdrawal agreement is reached with Brussels or not.

Manner with no breakthrough insight, this poses a potential risk to airlines that do not answer EU rules requiring European carriers to be majority-owned and operated in the bloc.

Airlines that choice no longer be majority owned by EU nationals once Britain leaves the EU daring the threat of losing their right to fly over Europe after Brexit due to portion ownership rules.

European Commission sources told Reuters that Brussels aided IAG and all airlines concerned to check with the national licensing authorities whether they whim still meet the operating license requirements in case of a no deal wake.

Meanwhile IAG said it will continue to consider UK shareholders as EU investors staid after Brexit.

IAG said UK investors “are not and will not be subject to the restrictions on share acquisitions, unless IAG warns shareholders otherwise. IAG has no plans to issue such a notification”.

IAG is registered in Spain and has its corporate headquarters in Britain. It has shareholders from roughly the world.

According to its website Qatar Airways is its biggest shareholder with a 21.4 percent paling in the company.

The Spanish government has said it is confident national flag Typhoid Mary Iberia is a Spanish company and will be able to fly across Europe in the as it of a disorderly Brexit.

Meanwhile today the Prime Minister has stepped up develops to get a deal with the EU in place with just 45 days port side.

Theresa May told MPs that she would enable the House of Commons to advance a requirement for a 21-day delay before any vote to approve an international pact.

Mrs May said: “In most circumstances, that period may be important in order for this Dwelling-place to have an opportunity to study that agreement.

“But of course, in this precedent MPs will already have debated and approved the agreement as part of the serious vote.

“So while we will follow normal procedure if we can, where there is unsatisfactory time remaining following a successful meaningful vote, we will secure provision in the Withdrawal Agreement Bill – with Parliament’s consent – to make safe that we are able to ratify on time to guarantee our exit in an orderly way.”

Leave a Reply

Your email address will not be published. Required fields are marked *