Category: Archive
February 16, 2011
By Staff Reporter
Ryanair, the cut-price airline, has been breaching Irish company law, according to its latest annual return filed with the Companies office.
Loans from Irelandia Investments to Tony Ryan, founder of the company, exceeded the maximum permitted under Irish law.
A company statement read: “The directors, being aware of this breach, have arranged for the loan to be repaid and have put systems in place to ensure that such a contravention of company law does not recur.”
Irelandia Investments holds Ryan’s 30 percent stake in Tipperary Crystal, as well as other assets.