Ryanair purchases 586,500 shares as part of buyback scheme

Ryanair has purchased another tranche of ordinary shares as part of its buyback scheme.

In a note to the Stock Exchange, the airline said it had bought back 586,500 shares for cancellation at the nominal value of €0.006 each. The average price paid per ordinary share was €17.90.

Following the cancellation of the ordinary shares repurchased, the carrier said it will have nearly 1.2 billion ordinary shares in issue. “To the extent that further ordinary shares are repurchased under the programme, these will also be cancelled.”

The latest transaction was part of Ryanair's existing share buyback programme, details of which were announced in May. The scheme is being operated by Citigroup Global Markets and Davy in conjunction with the airline and will run until October 31st at the latest.

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In May, Ryanair announced plans to return €600 million to investors through the buyback scheme. Last November it commenced a €550 million buyback programme over a four-month period.