Brussels official calls IAG Brexit plan ‘totally absurd’
The announcement by IAG that it would consider UK shareholders as EU investors after Brexit has been described as “totally absurd” by a senior official in Brussels. The airline group said this week that it had put a cap on the number of non-EU investors who can own shares in the event of a no-deal Brexit. But it also suggested it would count UK shareholders as EU investors even in that scenario. Airlines must show they are more than 50% owned and controlled by EU investors to retain flying rights within the bloc, posing a challenge for some European carriers, such as IAG, Ryanair and EasyJet, with their diverse investor bases. The EU official said IAG had not approached the EC to discuss its move, which appeared directed at maintaining its flying rights in case of several potential Brexit outcomes. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-18/oneworld/brussels-official-calls-iag-brexit-plan-2018totally-absurd2019
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Brussels official calls IAG Brexit plan ‘totally absurd’
The announcement by IAG that it would consider UK shareholders as EU investors after Brexit has been described as “totally absurd” by a senior official in Brussels. The airline group said this week that it had put a cap on the number of non-EU investors who can own shares in the event of a no-deal Brexit. But it also suggested it would count UK shareholders as EU investors even in that scenario. Airlines must show they are more than 50% owned and controlled by EU investors to retain flying rights within the bloc, posing a challenge for some European carriers, such as IAG, Ryanair and EasyJet, with their diverse investor bases. The EU official said IAG had not approached the EC to discuss its move, which appeared directed at maintaining its flying rights in case of several potential Brexit outcomes. <br/>
