An easyJet contingency plan has been put forward to be activated if required to ensure continued compliance with EU ownership and control requirements.
A post-Brexit trade deal may include a provision to waive the rules but easyJet brought forward its annual meeting so that shareholders could vote on its contingency measures.
The passing of resolutions put forward by the UK budget carrier’s board of directors came on the eve of a long-awaited post-Brexit trade deal due to be confirmed by Boris Johnson this morning.
The airline developed the contingency measures ahead of the ending of the Brexit transition period on December 31.
The plan would involve a suspension of certain shareholders’ voting rights, in accordance with the existing provisions of easyJet’s articles of association.
The current level of EU ownership in the airline is 47.02%.
EasyJet expects to keep the ownership position under review following the end of the Brexit transition period.
“A further announcement will be made upon any decision by the board to activate the contingency plan,” the carrier said.