The Financial Times is reporting that Ryanair boss, Michael O'Leary, has sold 2 million shares in the airline. It says that concerns over a lack of a Brexit deal may have influenced Mr O’Leary’s sale.
The budget airline is "on the pessimistic side of cautious" when it comes to the current financial year. Sales are expected to increase, but at a slower rate than costs.
2017 was a difficult year for the airline, with rising fuel prices and troubles with pilot scheduling. Ryanair’s low ticket prices boosted passenger numbers to more than 130 million with an "industry-leading" load factor of 95%.
The FT reports that one of the most significant issues causing turbulence at Ryanair is what it plans to do in the absence of a Brexit aviation deal. If an agreement isn’t struck before September, then summer 2019 scheduling could be affected.
"It does not appear that chief executive Michael O’Leary is optimistic: he sold 2 million shares at €16.49 (£14.44) each, leaving the airline boss with about 44.1 million shares or a 3.8% stake."
A spokesperson for Ryanair said in a statement to RTÉ, "We don't comment on Michael's personal affairs."
