24th Feb 2016 12:54
LONDON (Alliance News) - Ryanair Holdings PLC on Wednesday said it calls for a 'yes' vote for Great Britain to stay in the European Union when the referendum is held on June 23.
The Irish budget airline said it remains critical of both UK and EU government "failure" to promote low fare tourism growth in areas such as the UK travel tax and continuing indecision over additional runway capacity in the south east.
However, it said it remains a "committed supporter" of the UK remaining in Europe as this will lead to more UK jobs and better economic growth, while EU open skies have already "transformed" UK tourism.
Ryanair also noted that free movement of goods and services have made the UK one of Europe's "most competitive and best performing economies", while Prime Minister David Cameron's negotiated reforms "protect sterling, limit immigration and closer union, while reducing bureaucracy".
Finally, the airline added that it thinks foreign inward investment in the UK will be lost to Ireland and Germany if the UK leaves Europe.
"Ryanair is absolutely clear that the UK economy and its future growth prospects are stronger as a member of the European Union than they are outside of the EU," Chief Executive Michael O'Leary said in a statement.
"Leaving Europe won't save the UK money or red tape because, like Norway, the UK will still have to contribute to Europe and obey its rules if it wants to continue to trade freely with Europe," he added.
Shares in Ryanair were trading up 0.1% at EUR13.89 on Wednesday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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