Ryanair chief executive Michael O'Leary is €24m richer today after selling four million shares in the low cost airline. The company confirmed in a statement this evening that he sold the shares at a price of €5.95.
Another four million shares were sold by Declan Ryan, son of the airline's founder Tony Ryan.
After today's transaction, O'Leary will still own around 48 million shares, worth €288m at the company's current share price.
O'Leary has realised €200m through shares sales since the company floated on the stock market in 1997. He sold shares worth €47m in June last year.
Tony Ryan, along with his sons Cathal and Declan, own 55 million Ryanair shares worth €330m.Ryanair is the world's third biggest passenger airline by share capital with a market capitalisation of about €5 billion.
The eight million shares were placed by Davy Stockbrokers and investment bank Morgan Stanley.
Ryanair shares closed 13 cent lower at €5.97 this evening in Dublin.
