Ryanair warning to UK investors over No Deal

RYANAIR has threatened to stop UK investors from buying shares in the company and strip them of voting rights if there is a No Deal Brexit.

The Irish airline said it would take the controversial step to ensure it remained majority owned and controlled by European Unionbased shareholders, as required by the bloc’s rules.

Under the plan, if the UK leaves without a deal on March 29, all non-EU shareholders – including British ones – will be stripped of their rights to attend, speak or vote at any company meeting. Britons and other non-EU nationals will also be barred from buying shares in the firm. The move is a response to EU regulations which say airlines must be more than 50pc controlled by investors from inside the bloc if they wish to fly freely across the Continent.

Ryanair boss Michael O’Leary has been vocal about his fears of a hard Brexit.

Last month IAG, the owner of British Airways, Aer Lingus and Vueling, also placed a limit on non-EU shareholders. IAG insisted that the move was not linked to Brexit.