How does a loud voice steer Ryanair in the right direction?

How does a loud voice steer Ryanair in the right direction?


Aviva Investors supports Ryanair’s business model – it has delivered high returns to shareholders in the past. But when the governance of the business appeared to be significantly impacting operations, we questioned some of its business practices.

Our particular concern was the lack of independence among some of its board directors, who had commercial links with the business. We believed this greatly compromised their ability to provide objective management.

We voiced this at the 2019 AGM by voting against the re-election of the long-serving chairman and the senior independent director, and in fact all the other non-executive directors. With many changes to the board currently underway, significant steps in the right direction are being made.


ESG helps us be better investors, for our clients, and the world around us.

How? This is how. 


Note: Company names shown are for informational purposes only. This is not an offer to sell, nor a solicitation to buy, securities.


Important information


In Europe this advertisement is issued by Aviva Investors Luxembourg S.A. Registered Office: 2 rue du Fort Bourbon, 1st Floor, 1249 Luxembourg. Supervised by Commission de Surveillance du Secteur Financier. An Aviva company. In the UK, it is issued by Aviva Investors Global Services Limited. Registered in England No. 1151805. Registered Office: St Helens, 1 Undershaft, London EC3P 3DQ. Authorised and regulated by the Financial Conduct Authority. Firm Reference No. 119178. In Switzerland, it is issued by Aviva Investors Schweiz GmbH. In the USA, it is issued by Aviva Investors Americas, LLC, an SEC registered investment adviser, Chicago, IL. In Canada it is issued by Aviva Investors Canada Inc., which is registered as an exempt market dealer and portfolio manager in each province of Canada and as a commodity trading manager in Ontario. Registered office: 100 King Street, Suite 4900, Toronto, Ontario, M5X 2A2. In Singapore, it is issued by Aviva Investors Asia Pte. Limited, a company incorporated under the laws of Singapore with registration number 200813519W. Registered Office: 1 Raffles Quay, #27-13 South Tower, Singapore 048583.

148784 – 17/05/2021



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