Parvus Asset Management has increased its shareholding in Ryanair Holdings PLC, parent entity of Ryanair (FR, Dublin International), to in excess of 7%, the airline disclosed in a TR-1 filing to the UK’s Financial Conduct Authority.

The Irish Times newspaper said the activist hedge fund spent almost EUR230 million euros (USD251.5 million) last week to boost the size of its stake in the budget carrier. The fund’s total stake in Ryanair is now worth approximately EUR1.6 billion (USD1.75 billion).

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Source: ch aviation
Read more: Activist hedge fund raises stake in Ryanair to over 7%