Investing.com investing.com 18 Dec, 2020 19:00 am

Exclusive-Brexit clouds airline ownership as Spanish-led fix rebuffed By Reuters

Exclusive-Brexit clouds airline ownership as Spanish-led fix rebuffed By Reuters
Exclusive-Brexit clouds airline ownership as Spanish-led fix rebuffed

"There's been a last-ditch effort from a few member states to get something more liberal in the agreement on ownership and control," said an aviation source briefed on the discussions."Last year, IAG's airlines submitted plans on ownership and control to the national regulators in Spain and Ireland," a group spokeswoman said."Those regulators confirmed that the plans would satisfy EU ownership and control rules in the event of a no-deal Brexit.Stripping votes may restore European control but not ownership.

"Hungary has Wizz Air listed in London, (and) Spain has Iberia in a group with BA, so their interests were in watering down ownership and control requirements in the new UK deal," an EU diplomat told Reuters.A British Airways aircraft takes off from Heathrow Airport in west London p By Laurence Frost and Gabriela Baczynska PARIS/BRUSSELS (Reuters) - Spain, Ireland and Hungary have tried and failed to loosen EU airline ownership rules in a draft aviation deal with the UK, two people with knowledge of the matter said, out of concern about Brexit's impact on British Airways owner IAG (LON: ICAG ), Ryanair and Wizz Air.

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