Ryanair completes €600m share buyback programme
Latest transaction part of airline’s share buyback programme announced in May
Ryanair has concluded its share buyback programme. Photograph: Chris Ratcliffe/Bloomberg
Ryanair has concluded its €600 million share buyback programme initially announced in May of this year. The average price paid for the most recent tranche of shares bought by the company was €16.338.
The airline has taken advantage of the recent dip in its share price as a result of a raft of flight cancellations following poor pilot rostering management. In July it was paying an average price per ordinary share of €18.052.
“Following the cancellation of the ordinary shares repurchased the company will have 1,183,788,409 ordinary shares in issue,” Ryanair said in a statement.
The buyback programme is the company’s second in the last 12 months. In November last year it announced a €500 million share buyback programme, which lasted for four months.
The most recent scheme was operated by Citigroup Global Markets and Davy stockbrokers.