Ryanair-CEO Michael O’Leary is on track to earn a bonus of 111 million euros. That is an exceptionally high bonus by European standards. O’Leary only needs to stay on until July 2028 to cash in the bonus.
The share price of the Irish budget airline remained above 21 euros per share for 28 days, reports the Financial Times. With that, O’Leary meets the first requirement. The second is that he does not leave prematurely.
Such high bonuses receive considerable criticism. Some call it immoral. O’Leary defended the size of the bonus earlier this month. “I think we are providing exceptional value for Ryanair shareholders, at a time when footballers or managers in the Premier League are paid 20 to 25 million per year.”
The 64-year-old Irish businessman, described by the Financial Times as “combative,” is controversial. When he visited the European Commission in 2023, climate protesters threw two pies at him. O’Leary is also known for his provocative statements. For example, he once said, “I motivate my staff with fear.”
Low-cost carrier Ryanair announced on Thursday that it would stop flights to Maastricht due to “excessive cost increases.” Maastricht Aachen Airport would have become “one of the most expensive airports in Europe” with the decision to increase costs, the company wrote in a press release.