The boss of Ryanair, Michael O’Leary, achieved the objective of bonus of 100 million euros
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The boss of Ryanair, Michael O’Leary, qualified for action options worth more than 100 million euros after the actions of the airline reached a key performance objective, paving the way to one of the largest payments in the history of European companies.
The actions of the low-cost carrier closed at € 23.74 Thursday, which means that they closed more than € 21 for a 28th consecutive day, fulfilling one of the two conditions attached to the remuneration agreement for the O’Leary bumper.
The 64 -year -old man will have to stay in Ryanair until the end of July 2028 to collect action options – worth more than 111 million euros – as part of an incentive program agreed in 2019.
O’Leary, known for his pugnacious style, defended his potential windfall earlier this month after Ryanair reported a drop in profits in the full year.
“I think we offer an exceptional value to Ryanair shareholders at a time when Prime Minister footballers or managers are paid 20 million euros to 25 million euros per year,” he said.
Ryanair shareholders, he added, “obtained a particular value of our action options-mine and the rest of the management team”.
O’Leary said that, as the options would not have acquired for three years, he and the “rest of the management team must stay here until 2028 and continue to deliver before they can really obtain these sharing options”.
“So, they don’t come to three years yet and many things can happen by then,” he added.
O’Leary also pointed out that he could stay in the airline when his current contract expired in 2028.
“My contract is exhausted in 2028 and there must be a discussion that I presume with the board of directors on how my remuneration will be set from 2028, if they want me to stay after 2028,” he said.
O’Leary’s potential compensation agreement compares to that of József Váradi, boss of his low -cost Wizz Air rival, which earns 100 million pounds sterling if the action of the airline reached £ 120 by 2028. But Wizz Air previously conceded that it was unlikely that the actions are being negotiated well below this level.
Bumper payment packages are more common in the United States. The director general of Ge Aerospace, Larry Culp, received $ 89 million in 2024, making him one of the best paid American executives.
Some European companies, including the London Stock Exchange Group, have pressure for higher salary awards for their leaders.
Since he became director general of Ryanair in 1994, O’Leary organized the frightened growth of the airline when it went from a small regional airline in a force in global aviation.
The airline has cemented its undisputed low -cost leader position at low cost after having used the disruption caused by the pandemic to increase its market share as the lower rivals are returning.
O’Leary receives a base salary of 1.2 million euros per year, but also has a participation in Ryanair worth around 930 million euros.
Under the program agreed in 2019, he obtained the purchase options of 10 million shares at € 11.12 each if the price of the airline has reached € 28 for 28 consecutive days, or if it declared 2.2 billion euros in annual profits after tax up to 2028.
Ryanair said: “If the share price remains greater than € 21 until the end of the game on Thursday, May 29, the 28 -day course condition will have been met. However, this is only one of the two conditions for sharing options.”
Additional report by Patrick Temple-West in New York
