Thursday 19 September 2019

Capital Group sheds more of its Ryanair shares - bringing stake to less than 4pc

A Ryanair aircraft stands on the tarmac at Frankfurt-Hahn Airport, Germany. Photo: REUTERS/Ralph Orlowski/File Photo
A Ryanair aircraft stands on the tarmac at Frankfurt-Hahn Airport, Germany. Photo: REUTERS/Ralph Orlowski/File Photo
John Mulligan

John Mulligan

CAPITAL Group, once Ryanair's single biggest shareholder, has twice reduced its stake in the carrier this week, bringing it to below 4pc. A year ago, Capital owned 17pc of the airline.

In June, Chicago-based Harris Associates became Ryanair's largest shareholder. It owns just over 7pc of the carrier. Ryanair's shares were trading around €9.30 yesterday, having declined from a 52-week high of €14.29.

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Its profits tumbled 21pc to €243m in the three months to the end of June. It's been hit by higher staff and fuel costs, as well as the continuing global grounding of the Boeing 737 Max jet.

Hedge fund AKO Capital has meanwhile upped its stake in the carrier to just over 5pc.

US hedge fund giant Citadel continues to bet Ryanair's shares will fall. Citadel's European unit has a 1.19pc short position in Ryanair. Its US unit no longer has any notifiable short position in the carrier.

Irish Independent

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