Airlines counting the Brexit cost may opt for Ireland

Airlines with high exposure to the UK have taken a bashing due to worries by investors about the threat to the airline membership of the single European aviation market following the Brexit vote.

Ryanair’s shares plunged and shares in EasyJet dropped by almost a fifth at one stage.

Adding to the market turmoil, shares in IAG - the Aer Lingus, British Airways and Iberian group - also shed 20% of their value, in an initial sell-off that marked one of the steepest fallers on the London stock market.