Ryanair CEO gets closer to €100 million bonus as airline shares soar
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The news: Ryanair CEO Michael O’Leary is inching toward a €100 million ($163.3 million) bonus as shares in the budget airline reach a record high.
The numbers: Ryanair shares hit €18.99 on Friday and are up over 50% for the year to date. The airline expects to reach a post-tax profit between €1.85 billion and €2.05 billion in the year ending March 2024.
The context: In 2019, O’Leary agreed to a new bonus scheme which means that he can earn share options amounting to around €100 million should the low-cost carrier hold a share price of €21 for 28 days, or if it reports €2.2 billion in annual profits post-tax.
According to Factset data cited by the Financial Times, O’Leary, who became Ryanair CEO in 1994, also owns a 3.9% stake in the airline, which would hold a market value of €907 million.
Ryanair came out of the Covid-19 pandemic as a market leader in the budget travel space, and announced that it would make a maiden €400 million dividend for shareholders in its half yearly results.
The source: Ryanair
