Ryanair’s outspoken boss has met one of the key conditions required to pick up a reported €100m performance bonus based on share price value.
A condition of Michael O’Leary’s contract is that a bonus will be paid if shares in the LCC close at more than €21 for 28 consecutive days. However, he will need to remain at the company until 2028 in order to collect the payout.
READ: Ryanair’s O’Leary speaks out over rival’s all-you-can-fly offer
The stock price has remained firm, despite a dip in the company’s revenues in the first quarter. Initiatives, such as deals with online travel agents and flight search aggregators, have kept investor confidence buoyant.
The Financial Times reported that the Group CEO felt that shareholders were ‘getting value out of our share options – both mine and the rest of the management team’.
He also explained that he and the rest of the management team needed to stay in post for a further three years ‘and continue to deliver’ before the share options are realised.
While Michael O’Leary is Group CEO and the public figurehead of the airline, Eddie Wilson is Ryanair’s DAC CEO.
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