EC provides seven month window for UK carriers to conform with EU ownership structure after Brexit

    European Commission (EC) issued draft legislation enabling a seven month deadline to adjust ownership structure of majority owned UK airlines operating in the EU to conform with European Economic Area regulations after Brexit by late Oct-2019 (Financial Times). Ownership structure adjustment plans are expected to be submitted by carriers affected within two weeks of the draft legislation being adopted. The draft legislation adds airlines which have not submitted a plan within the two week deadline will have relevant operating licences revoked. It states: “That plan shall set out, in a complete and precise manner, the measures intended to achieve full compliance with the [EU] ownership and control requirements as from 27-Oct-2019 at the latest”.