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08/06/2009
O'Leary Makes €18.75 Million On Ryanair Shares
Ryanair chief executive Michael O'Leary has sold five million shares in his airline earning him €18.75 million before taxes, according to reports on Monday morning.
The sale reduces Mr O'Leary's holding in the company to just over 4%, equivalent to 0.34% of the airline's total amount of shares. Ryanair shares fell in Dublin in early trade by 2% to €3.67.
The news comes after the budget airline announced its first full-year loss in 20 years. Ryanair is also a major shareholder in Aer Lingus and last week Mr O'Leary's contingent was defeated in two motions at the Aer Lingus annual general meeting that sought to reduce the pay of the airline's chairman and other board members.
In an open letter to the Minister for Transport, Noel Dempsey, Mr O'Leary complained that the payments to Directors on Aer Lingus' board was "excessive" and called on the Minister to stop the payments.
"These resolutions, if passed, would reduce Aer Lingus' costs by €500,000 per annum and will significantly boost Aer Lingus' profitability and shareholder value," said the Ryanair boss.
Mr O'Leary claimed trade union bosses such as ICTU's David Begg were paid almost €5,000 per board meeting, while the Non-Executive Chairman was paid €15,000 per board meeting.
"Should you fail to cut these excessive fees, then sadly you will have as little credibility as the Board of Aer Lingus."
Ryanair is predicting profits of between €200 million and €300 million depending on fuel costs and average fares for this year and that passenger numbers will rise by 15% to 67 million.
(DW/JM)
The sale reduces Mr O'Leary's holding in the company to just over 4%, equivalent to 0.34% of the airline's total amount of shares. Ryanair shares fell in Dublin in early trade by 2% to €3.67.
The news comes after the budget airline announced its first full-year loss in 20 years. Ryanair is also a major shareholder in Aer Lingus and last week Mr O'Leary's contingent was defeated in two motions at the Aer Lingus annual general meeting that sought to reduce the pay of the airline's chairman and other board members.
In an open letter to the Minister for Transport, Noel Dempsey, Mr O'Leary complained that the payments to Directors on Aer Lingus' board was "excessive" and called on the Minister to stop the payments.
"These resolutions, if passed, would reduce Aer Lingus' costs by €500,000 per annum and will significantly boost Aer Lingus' profitability and shareholder value," said the Ryanair boss.
Mr O'Leary claimed trade union bosses such as ICTU's David Begg were paid almost €5,000 per board meeting, while the Non-Executive Chairman was paid €15,000 per board meeting.
"Should you fail to cut these excessive fees, then sadly you will have as little credibility as the Board of Aer Lingus."
Ryanair is predicting profits of between €200 million and €300 million depending on fuel costs and average fares for this year and that passenger numbers will rise by 15% to 67 million.
(DW/JM)
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03 July 2008
Ryanair's Aer Lingus Stake 'Takes Off'
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Ryanair has again raised its stake in Aer Lingus, brining its ownership to almost 30%. The budget airline last night announced a 3.5 million shares transaction, creating a 29.82% share, brining total share holdings to 159,231,025.
14 August 2008
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28 August 2013
Ryanair Told To Reduce Aer Lingus Stake
Ryanair has been told that it must reduce its stake in Aer Lingus from 29.8% to 5%. The UK Competition Commission (UKCC) made the demand of the airline, as well as informing them that they are not to seek or accept board representation at Aer Lingus, or try to acquire any further shares.
Ryanair Told To Reduce Aer Lingus Stake
Ryanair has been told that it must reduce its stake in Aer Lingus from 29.8% to 5%. The UK Competition Commission (UKCC) made the demand of the airline, as well as informing them that they are not to seek or accept board representation at Aer Lingus, or try to acquire any further shares.
07 October 2014
Delays At Airport After Planes Clip On Runway
Minor delays were caused at Dublin Airport this morning after two Ryanair flights clipped each other while taxing to a runway. According to witnesses one plane lost a small section of its wing when it clipped another plane. No one was injured in the incident and the airport quickly returned to normal.
Delays At Airport After Planes Clip On Runway
Minor delays were caused at Dublin Airport this morning after two Ryanair flights clipped each other while taxing to a runway. According to witnesses one plane lost a small section of its wing when it clipped another plane. No one was injured in the incident and the airport quickly returned to normal.
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Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
