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O’Leary sells off €20 million Ryanair shares
Ryanair’s chief executive Michael O’Leary has sold five million of his 60 million shares in the airline for €3.90 a piece.
Published: 28 Jul 2010
Ryanair’s chief executive Michael O’Leary has sold five million of his 60 million shares in the airline for €3.90 a piece.
As per the information available, Davy Stockbrokers placed the shares at 3.90 euros apiece, according to the person, who declined to be identified. Stephen McNamara, a spokesman for Ryanair, said the company doesn’t comment on the personal dealings of O’Leary. The move has resulted in a gain of €19.5m, which is then subject to capital gains tax of 20pc, making for a €3.9m windfall for the exchequer and leaving O’Leary with €15.6m.
O’Leary was paid €595,000 for his role as chief executive at Ryanair in the year to the end of March, after he took a voluntary 10pc pay cut. His bonus for the period was almost cut in half, to €241,000.
Ryanair recently reported a pre-tax profit of €105m for the three months to the end of June.
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