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EasyJet and British Airways' owner IAG warned they 'must move to EU after Brexit or lose major routes' EasyJet and British Airways' owner IAG warned they 'must move to EU after Brexit or lose major routes'
(35 minutes later)
EU officials have warned UK-based airlines that they will have to relocate their headquarters to the EU and sell shares to EU nationals or face seeing routes within continental Europe axed after Brexit. EU officials have warned UK-based airlines that they will have to relocate their headquarters to the EU or sell shares to EU nationals if they want to avoid seeing routes within continental Europe axed after Brexit.
According to the Guardian, representatives from easyJet, British Airways owner IAG, Ryanair and the Tui Group received the warning following a meeting with EU Brexit taskforce last week. According to the Guardian, representatives from easyJet, British Airways owner IAG, Ryanair and the Tui Group received the warning following a meeting with an EU Brexit taskforce last week.
To operate intra-European routes an airline must have a "significant base" in Europe, EU chiefs have reportedly said. To operate intra-European routes an airline must have a significant base on EU territory and a majority of their capital shares must be EU-owned. That means that some airlines would have to sell off shares after Brexit to maintain the rights to fly between cities like Berlin and Rome. 
The majority of capital shares in the airline must also be EU-owned, meaning that airlines would also have to sell off shares to EU nationals.
The warning comes less than a week before Theresa May is scheduled to trigger Article 50 and could mean major restructuring within some of the largest UK airlines.The warning comes less than a week before Theresa May is scheduled to trigger Article 50 and could mean major restructuring within some of the largest UK airlines.
It could also potentially lead to job losses as a consequence of major companies relocating to Europe after Brexit.It could also potentially lead to job losses as a consequence of major companies relocating to Europe after Brexit.
The new regulation will be of particular concern to companies such as easyJet, whose primary business model is based on access to routes across the EU.The new regulation will be of particular concern to companies such as easyJet, whose primary business model is based on access to routes across the EU.
British Airways only operates flights from the UK, however its parent company IA, may need to sell off UK-held shares in order to allow its other EU-owned airlines to continue complying with regulations. British Airways only operates flights from the UK, however its parent company IAG, may need to sell off UK-held shares in order to allow its other EU-owned airlines to continue complying with regulations, according to The Guardian.
Britain could respond to the tough EU line in kind and introducing its own nationality rules for EU-based airlines. Britain could respond to the tough EU line in kind by introducing its own nationality rules for EU-based airlines.
Thomas van der Wijngaart, an aviation expert at the legal firm Clyde & Co told The Guardian that the rules could have big economic consequences for the UK.Thomas van der Wijngaart, an aviation expert at the legal firm Clyde & Co told The Guardian that the rules could have big economic consequences for the UK.
He said: “It might be that carriers choose to have domestic flights [on the continent] operated by their new European operating licence, which would probably mean a reduction in staff in the UK.”He said: “It might be that carriers choose to have domestic flights [on the continent] operated by their new European operating licence, which would probably mean a reduction in staff in the UK.”
Representatives for Ryanair, EasyJet and British Airways were not immediately available for comment. Ryanair said in a statement: "We will continue to adapt to changing circumstances in the best interest of our customers, people and shareholders."
IAG said that it would "continue to comply with the relevant ownership and control regulations”.
EasyJet was not immediately available for comment.