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RYANAIR HAS CONFIRMED plans to remove itself from the London Stock Exchange due to high costs and the low number of trades being made.
The airline said it will just be listed on the Euronext Dublin exchange, with the final day of trading set to be on 17 December. It currently has dual-listed status.
Ryanair said: “As indicated at our interim results, and following subsequent shareholder engagement, Ryanair has decided to request the cancellation of London listing as the volume of trading of the shares on the London Stock Exchange does not justify the costs related to such listing and admission to trading, and so as to consolidate trading liquidity to one regulated market for the benefit of all shareholders.”
The company had previously floated the idea of a delisting earlier this month and said Brexit played a significant factor in the decision.
At its results in early November, the firm said: “The migration away from the LSE is consistent with a general trend for trading in shares of EU corporates post Brexit and is, potentially, more acute for Ryanair as a result of the long-standing prohibition on non-EU citizens purchasing Ryanair’s ordinary shares being extended to UK nationals following Brexit.”
Back in September the airline started the process of selling off around one million shares bought by non-EU nationals since 1 January – mainly British investors – due to company rules and Brexit.
The airline has a prohibition on non-EU nationals snapping up a stake in the company dating back to 2002.
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Not to worry, the Queen and Obama’s visit should kick extra tourism into gear any time now.. Lol
These figures and a decline in exports are the start of a further decline in economic activity.
The next Exchequer returns for the jan mar period will see a reduction in spend thus proving austerity is forcing the economy into a depression.
This allied to a budget taking 3.5 billion
out will lead to a bleak 2011/12
Part of the decrease may have to do with a slowdown in emigration also.
Please tell me you mean immigration Noel? ;)
What? People AREN’T going on holidays in the winter?
And partly the impact of circa 15 flights in and 15 flights out of the Galway Airport that are no more
The useless DAA should sell the old terminal building in Cork airport to Ryanair. Let them make a regional hub out of it like they wanted to do when the new one opened and then we’ll see the numbers rise…at the moment its just sitting there empty…lateral thinking is needed.
The decline in movements doesn’t necessarily correspond to passenger decline.
The Cork decline looks bad, but amounts to 6 movements a day. Then you look at what those movements were.
The Manx2 flight to Belfast, which was canned after the crash, accounted for 4 of them, yet the plane only had a capacity of 19 and usually carried 10-15 people.
Also gone are the Air SouthWest flights to Newquay and Plymouth after the airline ceased operating. Their aircraft would have been the same size that Aer Arann use.
And then there seem to be fewer ski charters.
Passenger numbers are only down by 2%, despite the large fall in flight movements.
These figures refer to number of flights – not necessarily the number of passengers. Airlines may be running less flights with higher passenger loads, or bigger aircraft.
have your say