easyJet to protect post-Brexit interest through new Austrian company

In a move to protect its ability to operate between fellow EU countries after the UK leaves the EU in March 2019, easyJet is looking to create a new company, easyJet Europe, which will be based in Vienna. Currently the low-cost carrier is headquartered in Luton, U.K., 30 miles from London. The budget airline must have a licence and an air operator’s certificate (AOC) in an EU member to allow it to continue flying between and within EU countries after Brexit.
EasyJet has confirmed that its application was “well advanced” and anticipates receiving its licence in the “near future”. The carrier also confirmed that “nothing will change” from the perspective of passengers, and that all the staff and planes that would fly for EasyJet Europe were already employed and based in the other 27 EU countries.
The overall cost of setting up easyJet Europe is anticipated to be in the region of €10 million (US$11.5 million), the majority of which will be for re-registering easyJet’s current fleet of 100 aircraft. EasyJet has indicated that it opted for Austria because of its strict implementation of European safety regulations and because it should be able to handle large numbers of planes owing to its experience with other major airlines.
One E.U. regulation the easyJet has confirmed it will be able to abide by is that all European airlines must be majority owned by European nationals. easyJet’s founder Stelios Haji-Ioannou and his family, account for 33 percent of easyJet’s shares, and currently hold Cypriot passports.
The airline has advised that it would continue to push for a deal between Britain and EU to enable flights to continue and keep the aviation market as open as possible.
In the meantime, it was announced that easyJet CEO, Dame Carolyn McCall is to become CEO of the U.K.’s largest commercial television broadcaster, ITV, at the beginning of 2018. Ms McCall has been at easyJet for seven years and in that time has seen the share price triple and passenger numbers increase by 56 percent.