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, 03-Feb-2019). 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".