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

Ryanair applies for UK license to shore up routes before Brexit

Published 01/02/2018, 11:30 AM
© Reuters. FILE PHOTO: A pilot disembarks a Ryanair flight at Stansted airport in London
0RYA
-

DUBLIN (Reuters) - Ryanair (I:RYA) recently applied for a British air operating license in a move it said on Tuesday may be required to keep its small domestic UK service operating in the event of a hard Brexit.

Flying rights are currently governed by EU-wide deals and because it is not part of the World Trade Organization, the aviation sector has no natural fallback arrangement to protect flights if there is no deal between Britain and the European Union.

Ryanair, Europe's largest airline by passenger numbers, follows fellow budget airline Wizz Air in applying for a separate license in Britain via a UK subsidiary.

"A subsidiary company Ryanair UK filed an application on Dec 21 last for an Air Operator's Certificate (AOC) with the Civil Aviation Authority in the UK. This may be required for Ryanair's three UK domestic routes in the event of a hard Brexit in March 2019," the airline said in a statement.

Ryanair said last year that it planned to pivot its growth away from Britain over the next two years as it fears the lack of clarity over Brexit will cause major travel disruption and hit demand.

© Reuters. FILE PHOTO: A pilot disembarks a Ryanair flight at Stansted airport in London

The Dublin-based airline's three intra-UK routes only account for around 2 percent of its business.

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.