Ryanair's O'Leary nets £16m from share sale

8th Jun 2009 17:02

Ryanair boss Michael O'Leary has pocketed over £16m from the sale of a stake in the low-cost airline.The outspoken Irishman sold 5m shares at €3.75 each, netting him €18.75m (£16.29m). He still owns 60m shares, or 4% of the business.Shares in O'Leary's company have risen sharply in recent months, up from €2.8 in March and just €2 last October.It flew more than 5m passengers in May, up 9% on a year ago. At last week's full-year results, O'Leary said he expects to grow traffic by 15% in fiscal 2009/10 to 67m.After tax profits for the coming year will at least double to a range of between €200m to €300m, he added.The no-frills carrier posted a loss of €180m after taking a €222m hit on its stake in Aer Lingus. Underlying profit came in at €105m in the year to March, down 78%. Revenues rose by 8% to €2,942m as air fares fell 8% and traffic grew 15% to 58.5m. Top Director BuysYell Group (YELL) Director name: Mr Bob WigleyAmount purchased: 130,260 @ 37.10p Value: £48,326Top Director SellsRyanair Holdings (RYA) Director name: Mr Michael O'LearyAmount sold: 5,000,000 @ € 3.75 Value: €18,750,000SABMiller (SAB) Director name: Mr Tony van KralingenAmount sold: 61,003 @ 1,276.10p Value: £778,459Brown (N.) Group (BWNG) Director name: Mr Dean Roderick MooreAmount sold: 86,650 @ 252.00p Value: £218,358Lavendon Group (LVD) Director name: Mr Kevin AppletonAmount sold: 26,528 @ 130.50p Value: £34,619Lavendon Group (LVD) Director name: Mr Alan MerrellAmount sold: 21,222 @ 130.50p Value: £27,695Mouchel Group (MCHL) Director name: Mr Kevin YoungAmount sold: 10,776 @ 247.00p Value: £26,617RM Group (RM.) Director name: Mr John Percival LeighfieldAmount sold: 10,000 @ 162.00p Value: £16,200