Heathrow Airport operator moving international HQ out of UK
Ferrovial will move its international base from Oxford to Amsterdam to come under EU law.
The operator of Heathrow Airport has revealed it will shift its international HQ from the UK to Amsterdam in the latest sign of concern over the impact of Brexit.
Spanish group Ferrovial – the largest shareholder in Heathrow – confirmed the move from Oxford to the Netherlands will allow it to come under European Union law following Brexit next March.
It comes after the Government voted to give the green light to a third runway at Heathrow late on Monday, with Transport Secretary Chris Grayling saying it would provide a “clear path to our future as a global nation in the post-Brexit world”.
In a statement, Ferrovial said: “Ferrovial has considered the relocation of the corporate registered office of holding companies of international businesses, currently in the UK, to a jurisdiction (Amsterdam) which is under the umbrella of European Union law.
There is no impact on employment, and our operations in the UK will remain unchanged Ferrovial
“There is no impact on employment, and our operations in the UK will remain unchanged.”
It marks the latest in a string of corporate fears over the UK’s EU divorce, with the Society of Motor Manufacturers and Traders (SMMT) calling on Tuesday for an end to Brexit uncertainties that have sparked a significant drop in sector investment.
Last week, plane manufacturer Airbus warned it could pull out of the UK with the loss of thousands of jobs if Britain leaves the single market and customs union in March 2019 without any transition agreement in place.
Ferrovial’s decision relates to its holding company that controls all of its operations outside of Spain, including its 25% stake in Heathrow as well as holdings in Glasgow, Southampton and Aberdeen airports.
The group is also helping to build the Crossrail project, which will pass through 38 stations and run for more than 100km across the UK.
Outside of the UK, Ferrovial also runs airports, waste management and other infrastructure services across Europe, North America and Australia.