Ryanair's O'Leary nets £16m from share sale
A round-up of the biggest director buys today so far.
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.
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
-
London house prices: Is the capital's property boom over?Buyers and investors have always been drawn towards the capital’s property market. But as house prices stall, is the market as lucrative as it once was and are buyers and investors still interested?
-
Premium Bonds quiz: How much do you know about the NS&I savings product?Quiz Many savers choose Premium Bonds in the hopes of winning a prize in the monthly draws. How much do you know about the savings product?
