Ireland-based low cost carrier Ryanair Holdings Plc (RYAAY, RYA.L) would brief analysts and major shareholders on its revised plans in two significant matters at an investor conference in London today.
As a result of increased demand and lower costs from both existing and new airport partners across Europe, Ryanair said it plans to step up its growth rate from 5% to 7% per annum over the coming years and would accordingly target to carry 110 million passengers by fiscal year March 2019 instead of the prior 100 million target.
Further, Ryanair detailed plans to return up to 1 billion euros to stockholders over the next couple of years with at least 400 million euros in share buybacks to be completed in the current year to fiscal year March 2014 and up to a further 600 million euros in either special dividends or repurchases targeted in fiscal year March 2015, subject to current fuel, yields and profitability trends continuing.
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