Mr Michael O'Leary, chief executive of Ryanair, will be £27 million richer following a share sale announced today by the Irish low-cost airline.
Mr O'Leary is selling three million shares at a price of euro 11.60 a share, netting him about euro 35 million (£27.6 million).
The share sale is part of a wider placing by Ryanair of 13 million shares designed to raise euro 151 (£119 million).
Ryanair will use the proceeds of its part of the sale for investment in the airline. The share placing is expected to take place next week, on February 14th.
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Ryanair said it had already been four times over-subscribed by investors.
PA