Latest news update: Ryanair is considering delisting from the London Stock Exchange after Brexit

Ryanair is considering delisting its shares from the London Stock Exchange after Britain’s exit from the European Union.

The airline’s CEO Michael O’Leary said activity on the London Stock Exchange “materially decreased” as a general share of the company’s trading during 2021, “in line with the general trend of trading in shares of EU companies after Brexit.”

But he added that the problem was “potentially more acute” for Ryanair given that EU rules insist that most airlines are owned and controlled by citizens from within the bloc.

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

The news came as the airline returned to profit for the first time since 2019 over the summer, underscoring the low-cost airline’s rapid recovery from the crisis that has engulfed the travel industry.

The airline announced a net profit of 225 million euros in the three months to the end of September, its first profit since the fourth quarter of 2019 in the months before the spread of the Corona virus in aviation.

O’Leary warned of a difficult winter to come, and Ryanair predicted a full-year loss of between €100 million and €200 million.

During the six months to the end of September, the first half of the company’s fiscal year, Ryanair lost 48 million euros, down from a 411 million euros loss the year before. In the same period of 2019, Ryanair recorded a profit of 1.3 billion euros

Leave a Reply

Your email address will not be published.