Ryanair CEO Michael O’Leary is poised to receive bonuses exceeding €100 million, potentially one of Europe’s largest executive payouts. This follows 28 consecutive days of Ryanair’s share price closing above €21, fulfilling a key performance metric.
O’Leary could receive 10 million shares, valued at approximately €111.2 million (£93.3 million), contingent on his continued employment until July 2028.
Despite a reported decline in full-year profits, O’Leary recently emphasized Ryanair’s “exceptional value” for shareholders, highlighting the share options’ value for both himself and the management team, comparing it favorably to top sports salaries.
Ryanair clarified that the share price condition is one of two; continued employment until July 2028 being the second, meaning the shares won’t vest for another three years. O’Leary has hinted at extending his tenure beyond 2028.
Since becoming CEO in 1994, O’Leary has overseen Ryanair’s growth from a regional airline to Europe’s largest low-cost carrier. He’s indicated future remuneration will be discussed with the board should he remain beyond 2028. This incentive scheme was established in 2019 when he became group CEO.
The High Pay Centre criticized the bonus, asserting that no individual’s contribution justifies such a substantial reward, particularly given the likely disparity between O’Leary’s compensation and that of most Ryanair employees.
Wizz Air’s CEO, József Váradi, has a similar, though less likely to be achieved, potential £100 million payout tied to share price targets.
Earlier this month, Ryanair instructed some Spanish flight attendants to repay salary increases following a legal dispute, adding another layer to the company’s recent news.
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