Ryanair plans to buy back up to €800m more of its shares over the next six to nine months due to a stronger cash position driven by delayed Boeing aircraft deliveries.
The airline announced a €700m share buyback in May, to be completed by the end of August.
Despite softer airfares, Ryanair decided on the follow-on buyback due to increased cashflow from strong traffic growth and delayed capital expenditure.
Ryanair’s shares rose 4.4pc after the announcement, with plans to seek shareholder approval to increase its annual buyback authority at its AGM in September.
