Tuesday 19 September 2017

Michael O'Leary sells four million Ryanair shares for €72m

Ryanair boss Michael O'Leary. Photo: PA
Ryanair boss Michael O'Leary. Photo: PA
John Mulligan

John Mulligan

Ryanair chief executive Michael O'Leary has sold €72m worth of shares in the airline as the billionaire aviator continues to reap the benefits of the carrier's success.

The share sale comes almost 20 years to the day since Ryanair made its stock-market debut.

Filings with the stock exchange yesterday show that Mr O'Leary sold four million Ryanair shares at €18 each last Friday.

The shares have hit an all-time high, buoyed by strong results and a fresh, €600m share buyback programme.

At the end of June 2016, Mr O'Leary owned almost 50.1 million shares in Ryanair. His remaining 46.1 million are currently worth €833m.

Elsewhere, US Treasury yields and the dollar dropped to seven-month lows and world stocks slid as political uncertainty from the United States to the Middle East and weakness in commodity markets pushed investors away from risky assets.

The yen and gold also gained amid prevailing caution as an Arab rift opened up around Qatar, and ahead of testimony from the former head of the FBI, a British election and the European Central Bank's next move, which all happen on Thursday.

Wall Street was lower for a second day after both European and Asian stocks dropped during their sessions.

The Dow Jones Industrial Average fell 31.09 points, or 0.15pc, to 21,152.95, the S&P 500 lost 5 points, or 0.21pc, to 2,431.1 and the Nasdaq Composite dropped 6.70 points, or 0.11pc, to 6,288.98.

BayernLB analysts have dubbed tomorrow "Super Thursday" as British voters go to polls in an increasingly unpredictable general election, the European Central Bank is due to meet and later the same day and former FBI director James Comey will testify before Congress.

Irish Independent

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