Tuesday July 7, 2020

Huge US mutual fund spends €180m to raise Ryanair sake to 4.3%

The Capital Group’s move comes as the airline announces that its traffic for May 2020 is down by 99.5 per cent on last year

Barry J Whyte

Chief Feature Writer

@whytebarry
7th June, 2020
Michael O’Leary, chief executive officer of Ryanair: traffic fell by 99.5 per cent in May compared to the previous year. Picture: Bloomberg

The Capital Group, a trillion-dollar US mutual fund, has spent nearly €180 million since March to increase its stake in Ryanair from 2.8 per cent to 4.3 per cent, stock exchange filings show.

Like virtually all of the world’s airlines, Ryanair has been hit by the impact of flight restrictions since early March.

Last month, it announced that its May traffic had fallen by 99.5 per cent compared to the previous year, with only 70,000...

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