O'Leary cashes-in Ryanair shares

12 April 2012

BUDGET air fares king Michael O'Leary, chief executive of Ryanair, cashed in more than £30m of shares today, taking to £86m the amount he has taken out of the soaraway airline in the past couple of years.

Ryanair said today that O'Leary, 41, and the founding Ryan family sold 14m shares in the airline through the company's Dublin stockbroker Davy. The sale - of 7m apiece - was struck at e6.70 or 431p a share. The shares today slipped 7 1/2p to 442 1/2p.

The sale nets O'Leary £30.2m and leaves him with a personal shareholding in the company worth upwards of £150m.

He has made no secret of his intention to sell down large chunks of his holding on an annual basis. Two years ago, he sold about £26m of shares, saying he was about to get married. The marriage failed to happen with O'Leary telling the Press he 'crashed and burned' with his then girlfriend.

He used a corporate fundraising last year to sell £30m of shares, saying he planned to put the money in the Post Office.

O'Leary was unavailable to comment today. He is on a post-annual results tour of investing institutions after the airline this week reported profits of £105m.

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