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BILLIONAIRE BUSINESSMAN DENIS O’Brien has diluted his holding in Aer Lingus, selling around €4.7 million worth of shares in the airline.
The Cork-born tycoon now owns just over 2.4% of the company after reducing the amount of shares he owns from 16,808,822 down to 12,758,822.
According to a market statement released by Aer Lingus earlier this week, the deal was executed on July 31, when the share price was around €1.33.
The airline also awarded a total of 532,355 shares to departing chief executive Christoph Mueller, under the company’s Long Term Incentive Plan.
The award to Mueller, who announced last month that he will leave the airline in May 2015 after five years in charge, was recommended by the remuneration committee of the Aer Lingus board in August.
The German has been credited with a major turnaround in fortunes at the airline, although in recent months he has come up against industrial relations woes and a larger problem with pension provisions at the airline.
Bernard Bot, who recently joined the carrier as chief financial officer from TNT express, was also provisionally awarded 401,548 shares in the company “in respect of the performance period ending 31 December 2016.”
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Expect a government announcement on the future of aerlingus or a loss or something Enda gave his aul mate Dennis a heads up
You realise Aerlingus is a plc and the government find out about loses at the same time as everyone else!
Oh right and who regulates plc you naive idiot
@Paul Doyle: The Irish Stock Exchange does…
self pleasurer
Paul, the Irish stock exchange, but shhhh it’s a secret! You don’t think of losses were on the cards Ryanair 29.8% or Ethiad 13% shareholder would get wind of it too. Part of the reason DOB took the shareholding originally was to block a Ryanair take over!
Oh and all recent financials including the period of the recent strike have been positive for AL
Please do you expect me to let your documented facts get in the way of my conspiracy
Must be going to buy a 142 car
#FirstWorldProblems
O’Brien.
The shameful strokepuller who only does business in the shadows, pops up his weasel head for another scalp.
Why doesn’t he feck of to Malta or wherever he is registered now.
It would be much better if you fecked off to anywhere but Ireland your such a miserable git we don’t want the likes of you here. The only thing that is shameful around here is you and your ilk who just can’t accept that some people are successful . oh yes another who begrudger. Why didn’t you buy shares in Aer Lingus – they are available on the stock market but of course you would rather have a go a someone who invests in an Irish company.
Thank God Biffo was independently appointed otherwise one might suspect a…..
*Whispers* Sweet Jesus, the basterds got him.
he asked for it !
I leperacained him some time ago …l.o.l.
Denis an honourable man why Moriarity said so…..
The Aer Lingus Board are giving away shares to the retiring CEO, so whats to stop him from selling them back to the company in the future. This in my opinion is a shoddy way to run a semi state company…
If it was a semi state company! It’s a PLC, Mueller was a decent CEO and turned around a very sick airline into a sustainable and profitable company, under difficult circumstances
As far as I’m aware Chris, EI is now a private company?
It is a semi state while the Irish government is a shareholder….
Not a semi state company. They are a PLC. Ryanair have a larger stake than the government! The government are purely an investor.
No it’s a PLC biggest shareholder is Ryanair 28%, Irish Gov 25%, Ethiad 13% Al staff 5% (not sure about the last)
All appointments follow stock exchange rules and the government has no say if Ryanair, and Ethiad go against them. It is on no way a semi state
@Wayne it never ceases to amaze me that when a company is turned around the CEO gets all the credit and the workers none . No CEO ever turned around a company without the efforts of the workers. Mueller has been given a handsome rise, generous pension arrangements and may be in line for a golden handshake when he leaves . Well rewarded don’t you think ?
I don’t remember a referendum !..International law – mexico !
Very true. I’d make a good CEO. Here’s my list of things to do. Everybody work harder, take a pay cut, sit tight because job opportunities are few and far between and we know it, drop any benefits that top brass peg for themselves and any additional profits generated through my schemes are never to be returned to the general work force. Now, done. Simples.
Wish I had a friend in the tax office
Jam today for Dennis!
Yippee!
Rest of you will get your jam tomorrow!
*Collective sigh….
“Right so….* tightens belt
Should say “a human male who may or may not have interests in FG or mobile or media may or may not have sold shares in a company for what may or may not have been money”. Now the lawyers are happy.
who bought the shares .76% shares in aer lingus would be an interesting question
Maybe Ethiad increasing their sizeable holding
Is there a list of banned words anywhere. Having trouble posting something. : )
Of course, who do u think owns most of the media in Ireland ? Comments always getting removed , don’t speak badly of the criminals in Ireland oops meant the people running the country and their friends in high paying state jobs
Good riddance to him off the share register. Probably only holding them in case an opportunity arose to interfere with Michael O’Leary’s attempts to buy AL and get back at O’Leary for robbing his parking space at GPA about 25 years ago. Good time to pick up a few AL shares with the price drop on this “bad” news.
He’s not off the share register, he only reduced his shareholding….
Idiot Elliot did you not read the article – he is still a shareholder. Why don’t you put your money where your mouth is and buy O’Brien’s remaining shares?
He bought them for €1 , The share price is dropping. Its currently at €1.32. what’s he supposed to do. He’s cutting and running before his shares go in to a loss. Its business , thats all…!!!
Good man Denis…keep powering onwards and upwards…to hell with the haters..
Who needs shares in an Airline when you’ve shares Irish Water?
Is he a shareholder on the journal ladies
Denis could but 5 O’Learys and still have money left over.
Denis is Ireland’s most successful business man.
Sorry. Could BUY O’Leary 4 times
business man? the song. i’ve got friends in low places. springs to mind.
William martin murphy is alive and well….. i see!!
An Irish Patriot.
All the goods are dead patriots that is
*anker
Denis doesn’t give a sugar what any of ye think and to be quite frank neither do I, Denis doesn’t waste his time commenting on other peoples success or lack of it.
Where does it say in the Bible that begrudgery should be a stalwart of Irish society.
Good man Dave O Connor.
do you cost the state a fortune in a tribunal , be found very suspect to say the least get a a58 million tax bill and go to the dodgiest courts in the western world and walk a way , because if you do – you are dead right not to give a shit !
Or are you just a Michael Lowry fan ?
Bernard, the Moriarty Tribunal found that Michael Lowry effectively “secured the winning” of the 1995 mobile licence for O’Brien and also that O’Brien made two payments to Lowry in 1996 and 1999 totalling IR£500,000 (GB£147,000 and GB£300,000) and supported a loan of GB£420,000 given to Lowry in 1999, a benefit equivalent to a payment. Disapproving of someone for achieving wealth through dishonesty and corruption is not begrudgery – It’s disapproving of someone for being dishonest and corrupt.
and will this sudden influx of money be subject to taxation i wonder? doubt it !
Zero respect for O Brien
llyolmmoklotto ooo
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