Will you still be able to claim compensation for flight delays and cancellations after Brexit?

UK: Will you still be able to claim compensation for flight delays and cancellations after Brexit?
 
Much has been said regarding Britain's exit from the European Union, but still, no one is any wiser about what will happen and the same can be said of the aviation industry. 
 
Airlines have been posturing that they would seek to operate in a country that is within the EU, allowing them to continue to reap the benefits of a single European sky. 
 
However, since the recent decision to expand London Heathrow, UK airlines have welcomed the move, with easyJet stating that they will begin to operate from the UK’s international hub.
 
A third runway at Heathrow does not solve the problem left regarding passenger rights once Brexit has finally taken shape. 
 
The UK Government will introduce a Great Repeal Bill, that will in effect allow the Government to pick and choose which EU regulation they want to keep. 
 
Airlines have long since been lobbying to reduce the amounts of compensation currently paid out. They dispute that the amount is fair and believe that it should be more in-line with the airfare price. 
 
The Government will be keen to assure airlines and big business in general that the UK is still open for business no matter what a post-Brexit Britain looks like. 
 
With that in mind, is there a possibility that airlines will get a sympathetic ear when talking with the Government? 
 
Airlines will certainly want to remain a part of the single sky initiative that enables them to fly from one EU country to another. However, they won’t be so eager to see the levels of compensation remain as they are. 
 
Ryanair has taken the step of changing its terms and conditions on more than one occasion. Its latest change stipulated that passengers are no longer able to allow a third party to represent them. This is illegal as passengers are protected under the current regulation and are able to have a third party pursue their claim as they see fit. 
 
The crux of the matter is that no one knows exactly what the consequences will be and airlines and passengers are made to do the guess work. The Government is being pressed on the matter, but quite frankly, it will probably consider passengers rights to be toward the bottom of their list of what needs addressing. 
 
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