- Title: Brexit may lead to more share buybacks, Ryanair's CEO says
- Date: 11th July 2017
- Summary: BRUSSELS, BELGIUM (JULY 11, 2017) (REUTERS) EXTERIOR OF EUROPEAN PARLIAMENT SIGN READING (English & German): "Changing times, lasting values."
- Embargoed: 25th July 2017 18:33
- Keywords: Brexit aviation industry airline Michael O'Leary European parliament
- Location: BRUSSELS, BELGIUM
- City: BRUSSELS, BELGIUM
- Country: Belgium
- Topics: European Union,Government/Politics
- Reuters ID: LVA0036P9Y64T
- Aspect Ratio: 16:9
- Story Text: Ryanair could speed up share buybacks in order to comply with European Union ownership laws as a result of Britain leaving the EU, the Irish carrier's chief executive said on Tuesday (July 11).
To qualify as an EU airline carriers have to be majority owned by EU investors.
CEO Michael O'Leary said around 20 percent of Ryanair's shareholders were UK-based. The carrier has already been carrying out share buybacks to return cash to shareholders.
He reiterated concerns that unless a deal is agreed for Brexit then flights between Britain and the remaining EU 27 countries could be grounded.
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