Ryanair profits to shrink in cold climate
Ryanair plans to return about 483m euro (£390m) to shareholders through a special dividend after admitting it has run out of things to spend its money on.
“We are bereft of ideas so will give the money back to people who own the company,” said chief executive Michael O’Leary. “We’re generating so much money we don’t know what to do with it.”
The company is paying only its second dividend since floating in 1997.
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Hide AdIn June 2010 it returned almost €500m euro to shareholders and said in total, it will have returned 1.5bn euro in dividends and share buybacks to shareholders over the past five years
The airline is still thinking over buying 200-300 new jets.