Ryanair has confirmed it will distribute the €398 million it earned from the 30 per cent sale of Aer Lingus to shareholders via a share buyback.
At an AGM today the airline said it will return the funds via a 'B' share programme to be concluded before December. This will bring the total funds returned to shareholders this year to €800 million.
Ryanair also raised its full-year traffic forecast to 104 million up from 103 million and its profit guidance by 25 per cent to €1.2bn.
Ryanair chairman, David Bonderman, said: "During our 30th year, Ryanair will grow traffic by over 13 million to 104 million customers.
“It is clear that consumers all over Europe are delighted by, and switching to our ‘AGB’ customer experience programme, our industry leading punctuality and our unbeatable low fares. Ryanair's combination of low fares and AGB service continues to deliver for our customers, our people and our shareholders.”
Sign up to BBT’s twice-weekly newsletter