Ryanair chief executive Michael O'Leary has sold shares in the company worth around €39 million to trim his holding by six million shares.
The shares were sold at €6.50 each, theairline revealed today.
The latest available company report showed Mr O'Leary held 41 million shares as of March 31st, 2004, which gave him a 5.4 per cent stake in the group.
He previously sold down his holding about once a year in early summer but has not sold any shares in the company since 2003. In November, when Ryanair shares were trading at around €5 a share, the chief executive said he was not willing to sell his stock "at these prices".
He told reporters in London last month he had no plans to sell down his shares, and that he had no plans to leave the carrier.
Ryanair shares were trading at €6.53 this morning, having hit a 16-month peak of €6.75 yesterday. Earlier this month, Ryanair posted a record full-year profit after tax of €268.9 million, up 44 per cent on the year earlier.