By Graham Dunn2020-12-23T15:20:00+00:00
Low-cost carrier EasyJet has confirmed it will activate a contingency plan if non-EU nationals’ ownership of the carrier remains above 49.5% when the UK’s Brexit transition period expires at the end of the month.
The move is designed to ensure EasyJet continues to meet European regulations requiring airlines with EU operating licences to be majority owned and controlled by EU nationals.
Source: Shutterstock
EasyJet’s current level of ownership by EU (excluding UK) persons is 47%. If unchanged at the end of the Brexit transition period this would mean non-EU nationals ownership would be above the 49.5% permitted maximum set by EasyJet.
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Markets and pound lift on talk of a Brexit deal
File photo dated 08/03/17 of an easyJet aeroplane. The budget airline has recorded a jump in revenue following an increase in passenger numbers. PRESS ASSOCIATION Photo. Issue date: Tuesday January 23, 2018. In Johan Lundgren s first trading update si Rumours swirling that a UK-EU trade deal could be signed as soon as Wednesday evening were enough for markets and the pound to shoot up, reversing falls earlier in the week. Investors preferred to not let new Covid-19 restrictions dampen spirits as the FTSE 100 index closed up 42.59 points, or 0.7%, at 6,495.75. The domestic-focused FTSE 250 ended up 347.04 points, or 1.7%, at 20,297.76.
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Wed, 23rd Dec 2020 14:38
(Alliance News) - easyJet PLC on Wednesday reported that all resolutions at its annual general meeting passed, though motions to re-elect several directors, including the carrier s chair and chief executive, were faced with sizeable investor opposition.
The company also updated on its post-Brexit transition period contingency plan, aimed at ensuring the company is majority owned by shareholders based in EU, in line with the trading bloc s rules for airlines.
Motions to re-elect Non-Executive Chair John Barton and Chief Executive Officer Johan Lundgren passed, despite just shy of 43% shareholders voting against the proposals.