💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Clock ticking on post-Brexit flights - EU official

Published 05/18/2018, 05:36 AM
Updated 05/18/2018, 05:40 AM
© Reuters. FILE PHOTO: A Malaysia Airlines Airbus A380 passes over homes as it comes into land at Heathrow Airport, London
ICAG
-

DUBLIN (Reuters) - There is still a possibility that flights will not be able to take place the day after Britain's planned departure from the European Union next year, an EU official said on Friday.

Henrik Honolei, director general for Mobility and Transport at the European Commission, said the clock was ticking and that the effects on aviation could be significant after the March 29, 2019, exit day.

"The possibility still exists that on day one no flights operate. It hasn't disappeared," Honolei said at a CAPA Centre for Aviation conference in Dublin.

"One thing is clear, is that this is a very sad chapter currently being written," he said.

He added that before any negotiations could be done specifically on aviation, or any other sector, the overall framework of Britain's departure had to first be agreed.

Willie Walsh, CEO of British-Airways owner IAG (L:ICAG), said it was important to remember that the flights question was not only a problem for Britain, but also for the rest of the EU.

"(Ryanair CEO) Michael O'Leary portrays this as people in the UK won't be able to fly. But it's people in Europe that won't be able to fly," he said, referring to repeated warnings by the Ryanair boss that flights could be grounded in March 2019.

Walsh also said he was confident that Britain and the United States would be able to reach a new traffic rights agreements covering flights between the two countries, although said it may be slightly different to the Open Skies deal between the United States and Britain, in light of more protectionist noises coming out of the United States.

© Reuters. FILE PHOTO: A Malaysia Airlines Airbus A380 passes over homes as it comes into land at Heathrow Airport, London

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.