Ryanair boss Michael O’Leary qualifies for monster €100m bonus
Ryanair chief executive Michael O’Leary is set for a monster €100m (£84.2m) bonus after the Irish airline’s shares hit a key performance target.
Shares in Ryanair closed at €23.74 on Thursday, marking the 28th consecutive day the stock has closed above €21 – the target O’Leary was set as part of a 2019 incentive scheme.
It means the only thing stopping the Irish executive from securing one of the biggest payouts in European business history, via share options, is if he leaves before July 2028.
O’Leary, who is renowned for his no-nonsense style, has described opposition to the award as “mewling nonsense.”
“If I do get it [the €100m bonus], all the City types will be railing against excessive executive pay and I’m not putting up with any of that,” he told the Telegraph last April.
Addressing the award earlier this month, he said: “I think we’re delivering exceptional value for Ryanair shareholders in an era when premiership footballers or the managers are getting paid €20mn to €25mn a year.”
Ryanair enjoying record passenger traffic
Ryanair, Europe’s largest airline by passenger numbers, reported a significant drop in full-year profit earlier this month, which it pinned on falling air fares.
But annual passenger traffic reached a record 200.2m, up nine per cent year-on-year as travel demand continues to soar in the post-Covid era.
Ryanair’s budget rival Wizz Air has also attracted criticism over its remuneration policy.
Chief executive József Váradi is much further off a potential £100m award should shares meet certain targets by 2027.
He has previously described opposition to the Hungarian carrier’s remuneration policy as “socialist.”