Summary
- Ryanair is considering moving its stock market listing from Dublin to Brussels because of dissatisfaction with listing rules.
- The airline’s CEO, Michael O’Leary, believes that Dublin is simply too closely aligned with the governance rules of the London Stock Exchange.
- If the airline leaves, it’s going to be a blow to the market as one other company also delisting and moving its primary listing.
Irish ultra-low-cost carrier (ULCC) Ryanair is reportedly considering a move from a Dublin stock market listing to an inventory in Brussels. The move could be unlucky for Dublin, considering the carrier has an operational base and a big presence in the town.
While nothing has been confirmed yet, Ryanair is reportedly dissatisfied with the listing rules in Dublin. It comes after the airline announced that Dublin Airport (DUB) would lose over 15 routes and nearly 20 aircraft because of the airport’s operator raising costs.
“No reason” to be in Dublin
In line with The Sunday Times, the consideration of moving comes amid growing frustrations with the domestic market. Ryanair’s CEO, Michael O’Leary, reportedly explained that stamp duties at high levels on share trading were a nuisance for international investors in Ireland.
The manager also mentioned that although Dublin is included within the pan-Europen stock market group, Euronext, the most important stock exchange group in Europe, and Britain are leaving the European Union, making the local exchange aligned too closely to the governance rules of the London Stock Exchange (LSE). In line with Alliance News, the Dublin stock exchange makes up a portion of the Euronext group.
Photo: Ryanair
O’Leary added to The Sunday Times. Furthermore, the CEO commented on the regulation of European exchanges, saying they were simpler and that Dublin needed to transition to the identical model.
In line with Alliance News, Ryanair accomplished its delisting from the LSE in December of 2021, shifting its primary listing to Dublin. The ULCC reportedly blamed the deteriorating trade volume in London post-Brexit for its decision.
One company has already decided to maneuver
Should the airline depart from Dublin, it will be a blow to the market as one other company is moving. CRH, a number one provider of constructing materials headquartered in Dublin, is reportedly delisting, and it goes into effect on Monday. The firm will proceed to trade in London, but its primary listing will move to Latest York, in response to Alliance News.
In consequence, it’s going to also leave the FTSE 100 Index, which comprises 100 of probably the most highly capitalized blue chip firms listed on the LSE. Howdens Joinery, a furniture business company, is ready to interchange CRH on the FTSE Index.
Disappointment in Dublin
This all comes as Ryanair announced last week that DUB will lose several routes and aircraft because of the airport’s operator, the Dublin Airport Authority (DAA), increasing costs by nearly 50%.
The ULCC accused the operator of wasting €250 million ($266,226,250) of cash from taxpayers on an underground cargo tunnel at DUB that may allow airport vehicles to travel between the eastern and western grounds of the airport under its north runway, which is now operational. The DAA proposed the tunnel in September 2022 and was given the green light for construction earlier this 12 months, in response to the Irish Independent. It is anticipated to be accomplished in 2024.
Photo: Peter Krocka/Shutterstock
Ryanair slammed DUB on the social media platform X, saying the and that the airport operator
The airline went on to say that