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We could be Spanish, says British Airways

IT is hard to believe, but it is understood that British Airways wants to be considered a Spanish company after Brexit, to maintain its status as a European carrier.

International Airlines Group (IAG) has been seeking the support of the Spanish Government and the European Commission for over a month to prevent Britain’s exit from impacting the business negatively, reported Spanish daily El Pais.

The airline group, which also owns Iberia, Vueling and Aer Lingus, has registered offices in Madrid. But its operational headquarters are based in London, which means that a no-deal Brexit could be detrimental to the airline.

The EU rules now state that more than 50% of an airline firm must be owned and controlled by member states, for it to be considered a European carrier, which is something IAG might struggle to meet after Brexit.

Ahead of Britain’s exit in March, the IAG company, believed to be worth almost 23bn euros, hopes it will continue be considered an EU-based company, and, therefore, covered by the same rules.

According to three government sources, and one from the EU, reported El Pais, Brussels would have to ratify the group’s nationality.

Following the news of IAG consulting the Spanish Government, Tom Watson, the Labour Party’s deputy leader, Tweeted: “Spanish Airways”.

IAG was founded in 2011 and is the sixth-largest airline company in the world.

 

 

Short URL: http://www.canarianweekly.com/?p=44540

Posted by on Nov 16 2018. Filed under Local News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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