Ryanair buy back 5.35m shares

23.04.08

Ryanair bought back 5.35m of its own shares at €2.65 each yesterday. After the shares are cancelled, the low-cost airline will have 1.48 billion ordinary shares in issue, it added.

Ryanair's shares have fallen from over €4 at the start of the year and over €6 a year ago on the back of record fuel prices and weakening consumer demand. However, the profitable budget airline is sitting on a substantial cash pile and, as it does not pay dividends, is returning some of it to the shareholders via a share buy back scheme.

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