Ryanair announced today it has begun buying back eight million of its shares at a price of €4.9497 per share.
On June 5th, in its full year results, Ryanair announced its directors had decided to undertake a buy-back programme under which €300 million would be available for return.
This equates to around 3.6 per cent of existing share capital of the company.
When a share buyback is done, the number of shares in circulation is reduced, so lifting earnings per share and adding to shareholder value.