Ryanair Will Quit London Stock Exchange To Follow Brexit Rules
Irish low-cost carrier Ryanair has decided to delist itself from the London stock exchange to comply with European Union rules following Brexit. Citing rule changes, high costs, and the low number of shares being bought and sold, the Dublin-based airline says it will be solely listed on the Euronext Dublin exchange, with the last trading on the FTSE set for December 17, 2021.
Ryanair cites Brexit as being one of the reasons it will no longer trade in London. Photo: Ryanair
Until then, shares in Europes biggest budget airline will be traded both in Dublin and London. Ryanair says that because of the low volume of shares being sold on the London exchange, the cost of being listed there does not justify the expense.
Ryanair says the move will benefit shareholders
When speaking about leaving the London exchange, the Independent newspaper quotes Ryanair with saying the following:
“As indicated at our interim results, and following subsequent shareholder engagement, Ryanair has decided to request the cancellation of London listing as the volume of trading of the shares on the London Stock Exchange does not justify the costs related to such listing and admission to trading, and to consolidate trading liquidity to one regulated market for the benefit of all shareholders.”
The airline had previously discussed delisting from the London exchange earlier in the month, citing Brexit as a significant factor in the decision-making process.
low number of shares were being traded in London
As a result of a low volume of shares being traded in early November, the airlines said:
“The migration away from the LSE is consistent with a general trend for trading in shares of EU corporates post-Brexit and is, potentially, more acute for Ryanair as a result of the long-standing prohibition on non-EU citizens purchasing Ryanair’s ordinary shares being extended to UK nationals following Brexit.”
Ryanair is Europe’s biggest low-cost airline. Photo: Ryanair
Following the summer, Ryanair started selling off around one million shares bought by non-EU nationals (mainly British) due to company rulers and Brexit. The airline has a prohibition on non-EU citizens snapping up shares in the airline dating back to 2002.
Ryanair Christmas Market fare sale
In other Ryanair-related new’s the airline announced last week that it would be offering a seat sale to some of Europes most popular Christmas markets. The budget carrier said it was putting over 100,000 seats on sale with prices starting as low as £16.99 for a one-way fare.
To celebrate the holiday season and allow travelers to soak up the atmosphere in some of Europe’s top Christmas Markets, Ryanair is putting flights to the following European city’s on sale:
To book these super-low fares, customers have until midnight on Sunday, November 21, 2021, with travel; allowed up until December 31, 2021.
Everyone would love the Christmas Market in Vienna. Photo: Pixabay
Visitors can browse over 120 stalls in Budapest as Vörösmarty Square comes to life with Christmas-inspired concerts and shows. The Christmas market in Brussels Place Sainte-Catherine offers mouth-watering gourmet chocolates and other Belgium delights for visitors to take home. With its picture-postcard beauty, the Czech Republic capital of Prague is one of the best places to go leading up to the holidays with its locally produced mulled wine and grilled sausages. Last but not least is the glorious city of Vienna, Austria, where shoppers can browse over 150 stalls in the shadow of the cities town hall.
What do you think about Ryanair delisting from the London stock exchange? Please tell us your thoughts in the comments.
Did you miss our previous article…