Ryanair (FR, Dublin International) is contemplating moving its primary listing from Dublin to the Brussels stock exchange amid growing frustration with the Irish domestic market, reports The Sunday Times in London.
It quoted CEO Michael O’Leary citing as reasons the high level of stamp duty on share trading in Ireland and the Dublin exchange being too closely aligned to London Stock Exchange (LSE) governance rules. Despite Dublin being part of the pan-European stock market group, Euronext, O’Leary said the regulation on European exchanges was more straightforward and that Dublin needed to move to that model. “There is no reason why we should be in Dublin rather than Brussels,” O’Leary said.
Ryanair delisted from the LSE in December 2021, blaming diminished post-Brexit trading volumes in London. A delisting from Dublin would be a blow to the Irish bourse, according to market commentators.
ch-aviation has reached out to Ryanair for comment.
The report comes days after the airline announced it was cutting 17-route winter routes from Dublin International and relocating 19 aircraft amid a row with airport operator DAA over a 45% increase in passenger charges and the lack of an environmental incentive scheme that rewards lower emission aircraft. It also criticised the airport operator’s capital expenditure management. The DAA has rejected the claims.
