RYANAIR chief Michael O’Leary has secured nearly €20 million through the sale of five million shares in the company.
The move by the low fares airline’s chief executive — he sold the share tranche at a price of €3.90 per share — follows on from his deputy, Howard Millar, profiting to the tune of nearly €860,000 from the sale of 764,000 shares earlier in the week.
Mr O’Leary’s share-holding in the airline now lies at 3.71% — amounting to about 55 million shares — after he also bought 46,000 shares in the company at a price of €2.20 per share. Mr Millar, meanwhile, owns 100,000 shares in the company following his transaction.
Mr O’Leary remains Ryanair’s single largest individual shareholder. His holding amounted 60 million shares — and 4% of the company — at the end of last month, prior to his latest share dealings.
The significance of this week’s share transactions is that there is only a certain amount of time per year, where directors can exercise their share options in the aftermath of results’ announcements.
Last week, the airline published its first-quarter results which showed a €30m year-on-year fall in pre-tax profits to €104.6m — due mainly to a €50m hit from the volcanic ash crisis disrupting European air space during much of April and May — but a 16% rise in quarterly sales to €896.8m.
Ryanair’s share price took a 12c — 2.9% — dive yesterday, closing the day at €3.84.
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