Ryanair is restricting the voting rights of non-EU shareholders to protect its European airline licences post-Brexit.
Europe’s largest budget airline group confirmed the move ahead of the UK leaving the European Union on December 31.
Ryanair said it must take steps to ensure it remains majority EU owned and controlled following Brexit.
This is necessary to ensure continued compliance with EU airline ownership and control requirements.
Shares in Ryanair Holdings held by non-EU nationals – including those from the UK – will be treated as ‘restricted shares’ from January 1.
Holders of restricted shares will be barred from attending, speaking or voting at any general meeting of the company.
UK nationals will not be allowed to acquire any Ryanair shares but existing shareholders will not be required to sell their stakes.
“These resolutions will remain in place until the board of the company determines that the ownership and control is no longer such that there is any risk to the airline licences held by the company’s subsidiaries pursuant to EU Regulation 1008/2008,” Ryanair said.
Rival Wizz Air also made a similar commitment.