BOARD APPROVES ’B’ SHARE PROGRAMME (SUBJECT TO EGM APPROVAL)
Ryanair held its AGM in Dublin this morning (24 Sep 2015), during which the airline briefed shareholders on the continuing success of its “Always Getting Better” (AGB) customer experience programme, which has enabled Ryanair to raise its full year traffic forecast (previously 103m) to 104m customers, and its profit guidance by 25%, (previously €970m) to €1.2bn.
Ryanair briefed shareholders on further AGB improvements later this year, including new primary airports in Amsterdam, Cologne, and Copenhagen, a new personalised website with advanced features (‘hold the fare’), an improved mobile app, new cabin interiors, crew uniforms and improved inflight menus.
Ryanair’s AGM also heard of plans to distribute the proceeds (€398m) from the sale of Ryanair’s 29.8% stake in Aer Lingus, to its shareholders via a ‘B’ Share programme which will be concluded, subject to EGM approval, before December. This will bring the total funds returned by Ryanair to shareholders this year to €800m and in excess of €3.3bn since 2008.
Ryanair Chairman David Bonderman said:
“During our 30th year, Ryanair will grow traffic by over 13m to 104m 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.
Following the sale of our 29.8% stake in Aer Lingus, the Board intends to distribute the €398m proceeds to shareholders by way of a ‘B’ share programme. We expect this programme will be completed – subject to EGM approval – before the end of the calendar year. When completed we will have returned €800m to shareholders this year, and over €3.3bn over the last 7 years, in addition to more than doubling our share price over the last 18 months.”