Ryanair buys back 75,000 shares as part of ongoing programme

Ryanair has bought back 75,000 ordinary shares as part of the company's ongoing share buy-back scheme announced in May.

In an announcement on the Irish stock exchange on Wednesday the airline said it had purchased for cancellation the shares at a nominal value of €0.006 each in the capital of the company.

The average price paid for each share was €18.765.

According to the announcement the scheme will operate up to the 31st of October at the latest with Citigroup Global Markets and Davy making the trading decisions in relation to the buy-back programme.

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“Following the cancellation of the Ordinary Shares repurchased the Company will have 1,201,720,865 Ordinary Shares in issue.

“To the extent that further Ordinary Shares are repurchased under the programme, these will also be cancelled,” the company confirmed.

The airline operated a similar scheme in November last year when it commenced a €550 million buy-back programme over a four-month period.

At the time it was said this was to be divided equally between the American depositary receipts held by US stockholders and ordinary shares to comply with rules capping non-EU ownership of European airlines at less than 50 per cent.