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IAG, the owner of British Airways, announced that it stops selling its shares to non-EU investors. Under the EU rules, at least 50% of an airline’s stock must be EU-owned. Currently, the amount of shares owned by non-EU investors in the IAG reaches 47.5 per cent.
IAG Group includes 5 airlines: Aer Lingus, British Airways, Iberia, Vueling and LEVEL.
Therefore, the announced restrictions for non-EU investors would not apply for the UK after it leaves the EU.
“IAG confirms that Relevant UK Persons are not and will not be treated as Relevant Non-EU Persons and, therefore, are not and will not be subject to the restrictions on share acquisitions set out in this announcement, unless IAG notifies shareholders otherwise. IAG has no plans to issue such a notification”, reports IAG.