Ryanair to proceed with London delisting due to Brexit

European budget airline Ryanair said it was going ahead with a delisting from the London Stock Exchange due to post-Brexit foreign ownership rules.

The carrier signalled earlier this month that that it would retain just its Dublin listing. The final day of trading on the London Stock Exchange would be December 17.

“As indicated at our interim results, and following subsequent shareholder engagement, Ryanair has decided to request the cancellation of London listing,” the company said in a statement on Friday.

“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.”

Ryanair said earlier this year that the move away from a listing in London was “consistent with a general trend for trading shares of European Union corporates post Brexit”.

“Following the cancellation of the London listing, the company will continue to have a primary listing on the regulated market of Euronext Dublin, which offers shareholders the highest standard of protection, including compliance with the UK corporate governance code,” the airline added.