IAG starts to limit non-EU ownership ahead of Brexit BelfastTelegraph.co.uk Aer Lingus owner IAG has moved to limit ownership of the airline group by non-EU shareholders to 47.5% as Brexit approaches. https://www.belfasttelegraph.co.uk/business/uk-world/iag-starts-to-limit-noneu-ownership-ahead-of-brexit-37809440.html https://www.belfasttelegraph.co.uk/incoming/article37810910.ece/4fd62/AUTOCROP/h342/willie-_Read-Only_.jpg Email Aer Lingus owner IAG has moved to limit ownership of the airline group by non-EU shareholders to 47.5% as Brexit approaches. Weekly Business Digest Newsletter But IAG, whose chief executive is former Aer Lingus boss Willie Walsh, said that UK citizens would not be subjected to a share buying cap it has imposed. The decision comes as IAG awaits an outcome to the UK Government’s on-going efforts to avoid a hard Brexit. All EU airlines must be more than 50%-owned by EU nationals or entities. Airlines that will no longer be majority-owned by EU nationals once Britain leaves the EU face the threat of losing their right to fly within the bloc after Brexit. About 20% of Ryanair’s shares are owned by UK nationals, and the airline has previously announced plans to deal with a hard Brexit. Ryanair chief Michael O’Leary said this month: “We will place restrictions on the voting rights and share sales of non-EU shareholders for a period of time (in the event… Read full this story
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