Ryanair will not place any of its new aircraft into the UK next year and focus solely on growth within the European Union.
In an interview with The Wall Street Journal chief executive Michael O'Leary said following the decision to leave the EU the airline will "pivot all of our growth into the European Union".
“We are taking another 50 aircraft next year. Would we place any of those in the U.K.? It is highly unlikely," said O'Leary.
He added: "There clearly is going to be a hit to UK GDP and to European GDP. There is three to four months of considerable uncertainty. The pound has fallen through the floor. It has all the feel and hallmark of another 9/11.”
Ryanair shares have dropped 23 per cent since Thursday's vote.