easyJet holds off on contingency plans after two tier Brexit extension granted

Budget airline easyJet has been the first to review its contingency plans following last night’s two tier extension of Brexit by EU leaders.

The EU have offered that the existing March 29 Brexit deadline be delayed until May 22, on the condition that Teresa May’s deal is accepted by Parliament by the end of next week.

However in the event that her deal is rejected for a third time by MPs, a hard ‘no deal’ deadline of April 12 has been given.

This morning easyJet confirmed that in the event of no deal it would proceed with existing plans to suspend shareholders’ voting rights to secure the required 50.5 per cent of EU owned shares, but said that any immediate action is “unlikely” until the final outcome is known.

It is expected that more businesses will follow suit in addressing their plans for both outcomes in the wake of the two tier extension announcement.

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