EasyJet readies Brexit contingency plan to meet ownership rules

FILE PHOTO: A Easy Jet Airbus A319-100 plane takes off from the Nantes-Atlantique airport in Bouguenais near Nantes, France, February 12, 2019. REUTERS/Stephane Mahe/File Photo - Copyright Stephane Mahe(Reuters)

By Reuters

Published on 22/03/2019 - 09:04•Updated 19/04/2024 - 19:50

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LONDON (Reuters) - British low-cost airline EasyJet said on Friday it was ready to suspend the voting rights of a small number of shares to comply with rules that require 50 percent plus one share of the company to be owned by EU shareholders following Brexit.

The carrier said its EU ownership, excluding British shareholders, had increased to 49.92 percent, and therefore its board was prepared to activate contingency plan of suspending shareholders' voting rights in respect of a small number of shares on a "last in first out" basis.