(Bloomberg) -- Ryanair Holdings Plc and Wizz Air Holdings Plc will take away the voting rights of shareholders outside of the European Union to ensure they comply with the bloc’s airline ownership rules after the Brexit transition ends.

All non-EU nationals will lose their voting rights from Jan. 1, Irish discounter Ryanair said Tuesday in a statement. Hungary’s Wizz said separately it would take the same steps.

Airlines that operate flights within the EU are required to be controlled by nationals of the bloc. U.K. citizens have counted as EU-based during the Brexit transition period that expires at year-end, but that will no longer apply.

Without any action, London-traded Wizz said that more than 80% of its ownership would reside outside of the EU. It said about 60% of its shareholder base would receive restricted-share notices. Owners won’t be allowed to attend or vote at shareholder meetings.

The issue also affects the rights of airlines like British Airways owner IAG SA and EasyJet Plc to operate within the bloc.

In the Brexit accord reached last week, the sides agreed to explore a liberalization of the ownership rules.

Brexit Deal Hands Business a Mix of Relief, Unwanted Change

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