Forgive my ignorance towards this law. One wonders if this is economic protectionism or for security (I am aware of similar situations in other countries/regions). So I couldn't have a majority-Norwegian-owned airline that did Germany to France stops? One wonders if all countries are happy with such policies or if this type of protectionism is more justification for self-determinism for the countries that disagree.
Also, could this be another way to look at it: you no longer have to be a majority-EU-owned airline to fly between UK and EU country. I.e. UK would not be subject to such EU rules. Of course companies with many avenues for revenue are going to conform to the most strict of them to get all business when reasonable. That doesn't always make it best for citizens.