Stelios praises Ryanair on dividend
02.06.10
Stelios Haji-Ioannou, the easyJet founder who is currently in dispute with the budget airline's board over dividends and aircraft purchases, praised rival Ryanair and its chief executive, Michael O'Leary they announced a special dividend yesterday.
Stelios noted that less than 2 years ago, Mr O'Leary said it was ‘absurd’ for any airline to pay a dividend. He said ‘I never thought the day would come when I would be able to say, 'Thank you, Michael'. Obviously I hope Carolyn McCall [easyJet's new CEO, who joins next month] and Mike Rake [its chairman] are watching this closely. I would expect nothing less from easyJet.'
Mr O'Leary is to benefit personally to the tune of around €20m from the one-off special dividend. He holds 4% of Ryanair’s shares, with his payout part of a €500m October dividend.
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