Ryanair boss Michael O'Leary has pocketed over £16m from the sale of a stake in the low-cost airline.
The outspoken Irishman sold 5m shares at €3.75 each, netting him €18.75m (£16.29m). He still owns 60m shares, or 4% of the business.
Shares in O'Leary's company have risen sharply in recent months, up from €2.8 in March and just €2 last October.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
It flew more than 5m passengers in May, up 9% on a year ago. At last week's full-year results, O'Leary said he expects to grow traffic by 15% in fiscal 2009/10 to 67m.
After tax profits for the coming year will at least double to a range of between €200m to €300m, he added.
The no-frills carrier posted a loss of €180m after taking a €222m hit on its stake in Aer Lingus. Underlying profit came in at €105m in the year to March, down 78%. Revenues rose by 8% to €2,942m as air fares fell 8% and traffic grew 15% to 58.5m.
Top Director Buys
Value: £48,326
Top Director Sells
Value: €18,750,000
Value: £778,459
Value: £218,358
Value: £34,619
Value: £27,695
Value: £26,617
Value: £16,200
-
Lloyds axes foreign currency fees for Club Lloyds customersClub Lloyds customers will be able to withdraw their money abroad without incurring any extra fees
-
How to invest during stagflationTrump’s tariffs look poised to push the global economy into a period of stagflation. We look at how to ensure your investments can survive a global slowdown.
