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(Sharecast News) - British Airways owner International Consolidated Airlines said on Tuesday it had obtained the necessary regulatory approvals to continue flying freely regardless of whether there is a Brexit deal in place or not by the end of the year.
Negotiations between Brussels and London resumed earlier in September but far from a resolution, there were now concerns that a deal might not be agreed between Britain and the European Union in time for the end of the transition period in December 2020.
"In compliance with the European Union connectivity regulation last year our airlines submitted their plans on ownership and control to the respective national regulators in Spain and Ireland," Chairman Antonio Vazquez told the group's AGM in Madrid, which was live streamed.
"We're delighted to announce that regulators confirmed that these plans in case of a hard Brexit do comply with European Union connectivity regulations."
The UK's chief negotiator, David Frost, demanded "more realism" from the EU.
Ahead of more talks with chief EU negotiator on Tuesday, Lord Frost said: "Today, I will sit down with Michel Barnier and drive home our clear message that we must make progress this week if we are to reach an agreement in time.
"We have now been talking for six months and can no longer afford to go over well-trodden ground.
"We need to see more realism from the EU about our status as an independent country."
He said the UK's position derives from the "fundamentals of being a sovereign state" and called for the EU to "fully recognise this reality".
"If they can't do that in the very limited time we have left then we will be trading on terms like those the EU has with Australia, and we are ramping up our preparations for the end of the year," Lord Frost added.
26 Jun 2023 10:49
IAG says interest in Portugal's TAP depends on privatisation conditions
MADRID, June 26 (Reuters) - Portugal's state-owned airline TAP could be an acquisition opportunity for the Iberia and British Airways owner IAG, depending on conditions, IAG Chief Executive Officer Luis Gallego said on Monday.
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