Ryanair pays out low-price shares to workers

RYANAIR’s chief executive Michael O’Leary is to take advantage of the company’s low share price to increase workers’ stake in the airline.

Mr O’Leary said that although the European airline industry is enduring difficult times, all Ryanair’s staff are working hard to ensure the company provides the lowest fares and best customer service.

“We expect the very tough trading conditions to continue and be particularly difficult this coming winter. This new scheme reflects the current low share price and allows our people to share in future increases of the share price.

“Ryanair continues to demonstrate its commitment to its people by providing rewarding careers with industry leading pay and conditions - this update to the staff share scheme is just the latest confirmation of our policy.”

Ryanair said none of the permanent employees covered by the scheme will receive less than €4,200.00 in this allocation. This is the second tranche of shares issued to staff since the Company floated in 1997. Employees already own €130m in company shares.

Earlier this year Ryanair and its smaller rival, EasyJet Plc, warned that increased competition from expansion and new airlines will drive down fares and may cause bankruptcies among smaller carriers.

Ryanair this month announced new routes from London’s Stansted and Luton airports, Rome and Frankfurt as it tries to expand its network and win market share.