Budget Airline Boss Set For €100m bonus
The CEO of Ryanair is set for what could be one of the biggest bonus pay-outs in European corporate history.
Ryanair boss Michael O'Leary is reportedly awaiting confirmation of a bonus package worth in excess of €100m. Included is a hare option for 10 million shares worth some €111.2m. However, this is tied to O’Leary staying at the company until the end of July 2028.
O’Leary is a controversial character, whose quotes make journalists salivate with their punchiness. He was reported by Campaign Live to have said: “Short of committing murder, negative publicity sells more seats than positive publicity.”
He has immediately defended the bonus package as reasonable. He told attendees on an analyst call and reported by BBC News: "I think Ryanair shareholders are getting a particular value out of our share options - both mine and the rest of the management team," he said in response to being asked about the share option on an analyst call earlier this month.
"We're delivering exceptional value for Ryanair shareholders in an era when premiership footballers or the managers are getting paid 20 to 25 million a year."
O’Leary has been working at the airline since 1988 and became chief executive in 1994.
The bonus package has drawn criticism not least because there has been concern raised about the pay levels of Ryanair cabin staff and their working conditions. In 2022, Reuters reported that some staff in Belgium, Spain and Portugal went on strike over conditions. Several years before this, it was the pilots who were taking the company to task.
BBC News adds that rival Wizz Air has a similar deal in place for it’s CEO, József Váradi. However, it is tied to the company’s share price hitting £120 by 2028; and this, the company says, is unlikely.
