Latest news: Ryanair plans to withdraw from London Stock Exchange following Brexit

0

Ryanair is considering withdrawing its shares from the London Stock Exchange following Brexit.

The airline’s chief executive, Michael O’Leary, said activity on the LSE had “declined significantly” as a share of the company’s overall trade in 2021, “in line with a general trend for trading in ‘shares of European companies after Brexit “.

But he added that the problem is “potentially more acute” for Ryanair given that EU rules insist that airlines are majority owned and controlled by nationals of the bloc.

Ryanair, which has a main listing in Dublin, forced some UK investors to sell their shares in the company to avoid breaching EU ownership rules in September.

The news came as the airline returned to profit for the first time since 2019 during the summer, underlining the low-cost carrier’s rapid recovery from the slump in the travel industry.

The airline reported net profit of 225 million euros in the three months ending in late September, its first profit since the last quarter of 2019 in the months before the coronavirus disruptions hit aviation.

O’Leary has warned of a difficult winter ahead and Ryanair has forecast an annual loss of between € 100 million and € 200 million.

For the six months to the end of September, the company’s first fiscal semester, Ryanair lost 48 million euros, compared to a loss of 411 million euros the previous year. During the same period in 2019, Ryanair made a profit of 1.3 billion euros


Source link

Share.

Leave A Reply