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What about Iberia after Brexit?

| News | Public and Regulatory Law

Miguel Nieto explains that EU regulations allow free traffic in member countries only for EU companies in Vozpópuli, while the rest must operate under an international agreement with Brussels

Brexit is now official. The United Kingdom has left the European Union (EU) definitively in the early hours of this Saturday morning following the entry into force of the Withdrawal Agreement, with all that that implies for citizens, institutions and businesses. Iberia's future is one of the most worrying due to its complex shareholding structure, as it is part of the Anglo-Spanish holding company IAG, together with its 'sisters' Vueling, British Airways, Aer Lingus and Level.

Miguel Nieto explains that the fact that IAG is listed on the stock exchange makes it difficult to identify whether its shares are majority owned by the EU or not, as required by Brussels. The expert explains that "EU regulations allow free trade in member countries only for EU companies, while the rest have to operate under an international agreement with Brussels".

In the worst case scenario, as Miguel Nieto explains, if the United Kingdom and the European Union do not reach an agreement on airline operations, "an international agreement should be established" to regulate air traffic between the two countries, as is the case with the rest of the non-EU airlines -as is the case with China- that operate in the member countries.

You can read the full article in Vozpópuli.

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