The Impact of Brexit on the Transport Industry

Abstract

On 29 March 2017, the United Kingdom of Great Britain and Northern Ireland (UK) announced its intention to leave the EU and all its institutions, including the European Court of Justice (ECJ), European Civil Aviation Area (ECAA), European Agency for Railways (ERA), the European Aviation Safety Area (EASA), etc. – also the European Atomic Energy Community.

Under Article 50 of the 2007 Treaty of Lisbon, there is a two-year time period allowed to make a withdrawal agreement.  Thus on 30 March 2019, the UK will no longer be an EU member, unless the European Council unanimously votes to extend this period.

The Withdrawal Agreement is then subject to ratification by the European Parliament and also (by qualified majority vote) the European Council (i.e. 16 countries representing more than 65% of the EU population).