€1bn payout for Ryanair shareholders

RYANAIR shareholders are in line for a €1 billion payout as the airline rules out a further Aer Lingus bid and hints it could slightly raise its full-year earnings forecast.

The airline, which first sold stock 13 years ago, has never paid a dividend, but it intends to make a one-time payment starting at the end of its fiscal year in March 2013.

Chief executive Micheal O’Leary said: “We expect our current cash reserves of €2.5bn to grow substantially by March 2013 and we plan to distribute surplus cash to shareholders from that date.