Belfast Telegraph

Ryanair chairman sells £12m chunk of shares

By Nick Webb

Ryanair chairman David Bonderman and his family sold €14.5m (£12.3m) worth of shares in the low-cost airline last week.

It was the largest sale of any shares in an Irish listed company by a board member this year.

Bonderman who heads up the €40bn (£34bn) TPG private equity giant retains 9.23m shares worth €33m (£28m). The shares were sold by the Bonderman children's trust on December 2.

Ryanair's share price has risen since then. Bonderman has been on Ryanair's board since 1996. Ten years ago the billionaire hired the Rolling Stones and John Mellencamp to play at his 60th birthday party in Las Vegas.

The €5.2m (£4.4m) shindig is said to have been one of the most expensive birthday parties ever.

Bonderman's move to offload a substantial chunk of his family's interest in the airline comes as Ryanair ratchets up pressure on Aer Lingus to release the report into the disastrous 'leave and return' scheme which saw Aer Lingus forced to pay €30m (£25m) to the Revenue Commissioners after rehiring the same staff it had let go under an employment deal.

Aer Lingus has refused to publish the report into the scheme. As a 29.8% shareholder in the former semi-state airline, Ryanair has sought to force Aer Lingus to hold an EGM to discuss the report.

Belfast Telegraph