Mubasher: British Airways parent International Airlines Group (IAG) was reportedly in talks with Spain to protect its ownership rights in the European Union (EU) in the event of a no-deal Brexit.

IAG was discussing with Spanish officials and the European Commission to ensure the company would still be considered a majority EU-owned even if London and Brussels fail to forge a divorce agreement, Spanish newspaper El Pais reported.

In the so-called hard Brexit, where both sides do not reach an agreement, the rights of airlines that are owned by EU majority could be limited.

“We remain confident that a comprehensive air transport agreement between the EU and the UK will be reached,” IAG said in a statement.

“It’s in the UK and EU’s interests to have a fully liberalised aviation agreement [and] even if there is no Brexit deal, both the EU and UK have said they will put an agreement in place that allows flights to continue,” the company added.

This is the latest of airlines to take such measures to protect their operating rights since the UK voted in 2016 to separate from the EU.

Irish airline Ryanair applied for a UK air operator certificate, while it plans to restrict the voting rights of UK shareholders to maintain its majority EU-ownership, should both sides fail to hammer out an agreement.

Budapest-based Wizz Air and UK easyJet established subsidiaries, Wizz Air UK and easyJet Europe, in a bid to protect their operations.