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IAG to cap share ownership by non-Europeans

Staff Writer |
IAG, the owner of British Airways and Iberia airlines, said on Monday that it would cap ownership of its shares by non-Europeans at the current 47.5 percent level to maintain its status as a European-owned airline.

Britain is due to leave the European Union on March 29 but has yet to seal a withdrawal agreement, posing a potential risk to airlines that do not meet EU rules requiring European carriers to be majority-owned and operated in the bloc.

Airlines that will no longer be majority owned by EU nationals once Britain leaves the EU face the threat of losing their right to fly within the bloc after Brexit due to share ownership rules.

But IAG said that United Kingdom citizens would not be subjected to this buying cap.

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