Ryanair turns profit into major dividend

BUDGET airline Ryanair is set to splash out on a €500 million (£404m) special dividend when it reports its full-year trading figures today.

Outspoken founder Michael O’Leary is expected to receive more than £14m from the special payout, given his 3.55 per cent stake in Ryanair.

The company is expected to have made a profit of €489m for its latest financial year, but remain cautious on prospects for the 12 months ahead given economic headwinds.