Europe's largest discount airline, Ryanair Holdings Plc, announced today that it will give back Eur1 billion or $1.3 billion to its shareholders over the course of two years. The said shares saw its increase in a span of one month.
Ryanair plans to buy back Eur400 million of stock at the very least during the current fiscal year untin the end of March next year. The estimated Eur600 million is to be disbursed in the following 12 months in further reacquisitions or a special dividend, said Ryanair.
Ryainair is headquartered in Dublin, Ireland.
The second half of the payout is relative and subject to fuel, yield and profitability tendencies and trends, said the company.
Michael O' Leary, the budget airline's Chief Executive Officer, is attempting to increase returns as he speeds up the carrier's yearly traffic growth to 7 percent, a 2 percent increase from previous postings, according to the company's briefing of investors in London.
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