London Stansted owner sees quick fix for Brexit aviation threat

Bloomberg

London Stansted and Manchester airports owner MAG said it sees a relatively easy fix for the potential grounding of flights between the UK and European Union in the event of a so-called hard Brexit.
The existing open-skies regime that permits unfettered flying by EU airlines within the bloc could easily be maintained by adopting a structure “mimicking” the status quo, Manchester Airports Group CEO Charlie Cornish said.
“A soft Brexit agreement is certainly preferable and the government needs to move its thinking forward in terms of aviation and open skies,” Cornish said.
Ryanair Holdings Plc, which has its biggest base at Stansted, has raised the spectere of a no-deal Brexit grounding flights and isolating the UK when it quits the EU next year, with CEO Michael O’Leary saying holidaying Britons may be limited to ferry, rail and road trips as the industry is plunged into crisis.
Cornish said the UK “is such a major aviation market” — ranking third in the world after the US and China with 250 million passengers a year — that he “can’t see” there being an issue. London Heathrow airport serves as Europe’s biggest global entry-point and Mediterranean economies from Portugal to Greece rely heavily on vacationing Britons.
The CEO said he also has “no concerns” about maintaining trans-Atlantic flights, though current access agreements were negotiated by the EU.
Manchester airport ranks sixth in Europe for passengers travelling direct to the US Virgin Atlantic Airways Ltd., which serves American cities from the airport, said it’s “not even remotely worried” about US-UK negotiations.
“We’ve always been clear that our preference is to remain in the EU, but that said we think our group and our airports are in strong enough position to withstand the impact of Brexit,” Cornish said.
MAG anticipates a surge in demand for extra flights from airlines before Heathrow’s third runway, backed by UK lawmakers last month, opens for business after 2026.