Ryanair to drop LSE listing as trading volumes fall post-Brexit

Ryanair to drop LSE listing as trading volumes fall post-Brexit

Bloomberg / Dublin

Ryanair Holdings Plc is poised to drop its London Stock Exchange listing, becoming the first major company to blame its departure on Brexit.

The Irish discount airline said on Monday that it is weighing a delisting due to compliance headaches caused by Britain’s exit from the European Union. A growing number of companies are disappearing from the London stock market for a variety of reasons.

Airline ownership rules set decades ago to protect the industry in Europe have added a layer of complexity to the divorce that took effect at the start of this year. EU-based carriers must be owned and controlled from within the bloc, and with Brexit, UK nationals don’t qualify anymore.

Even after taking several steps to limit non-EU ownership, just over one-third of Ryanair’s shares are held from member states, chief executive officer Michael O’Leary said in a Bloomberg TV interview. While the Dublin-based carrier will maintain its primary listing in the Irish capital, it needs to take added steps to bring the total over 50%.

“It’s an inevitable consequence of Brexit,” O’Leary said, adding that he expects the London departure to take place within six months. “We must be EU-owned and