Easyjet near taking stake in TUIFly

Easyjet near taking stake in TUIFly

An Easyjet plane is seen at Lisbon’s airport, Portugal June 24, 2016.

BERLIN (Reuters) – British budget carrier easyJet is close to taking a stake in German airline TUIFly in order to secure flying rights in Europe even after Britain leaves the European Union, German publication manager magazin reported on Thursday, citing sources.

EasyJet could be left without the rights to operate inner-European flights, which analysts estimate account for around one third of its business, should Britain leave the EU without negotiating access to the common EU aviation area.

EasyJet CEO Carolyn McCall has therefore been looking at ways of obtaining the necessary licences to continue to operate as an EU carrier.

TUI Group , which owns TUIFly, and easyJet declined immediate comment.

(Reporting by Victoria Bryan, Peter Maushagen and Sarah Young; Editing by Harro ten Wolde)

REUTERS/Rafael Marchante