easyJet PLC (LON:EZJ) has said it hopes to get the required approvals from authorities soon to allow the budger carrier to set up an Austria-based airline to protect its flying rights within Europe in the wake of Brexit.
The FTSE 100-listed firm said in a statement today that the approvals "will allow easyJet to establish a new airline, easyJet Europe, which will be headquartered in Vienna and will enable easyJet to continue to operate flights both across Europe and domestically within European countries after the UK has left the EU (regardless of the outcome of talks on a future UK-EU aviation agreement) "
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easyJet is seeking an Air Operator Certificate and airline operating licence issued by Austro Control and Austria's Federal Ministry for Transport, Innovation and Technology respectively.
The airline said: "The accreditation process is now well advanced and easyJet hopes to receive the AOC and licence in the near future."
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The new structure will mean that easyJet would become a pan European airline group with three separate businesses based in Austria, Switzerland and the UK. All three will be owned by easyJet PLC which will remain listed on the London Stock Exchange and based in the UK.
While the new structure will protect all of easyJet's current flying rights within Europe, the airline said it will continue to push for the UK and EU to reach an aviation agreement which, at a minimum, will enable flights between the UK and EU.
In midmorning trading easyJet shares were 1p higher at 1,408p.