The budget airline will now focus on the European Union, despite its largest hub being at the London’s Stansted Airport.

Its boss, Michael O’Leary, was a vocal supporter of the Remain campaign and warned he would cut investment in Britain if it voted to leave.

Now after its shares plummeted 23% in value, the Irish carrier has warned it will provide no additional aircraft on UK routes.

A spokesman said: “It’s unlikely we will base any additional aircraft in the UK in 2017 as they will be allocated to EU airports instead”.

And Mr O’Leary told the Wall Street Journal that Ryanair would “pivot all of our growth into the European Union” though growth targets remain unchanged.

He reportedly expects three or four months of “considerable uncertainty” but forecasts a limited impact on British bookings.

Virgin Group, the parent company of Virgin Atlantic Airways, said the decision had scuppered a deal worth 3,000 jobs.