Ryanair boss O’Leary hits €100mn bonus target

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Ryanair boss Michael O’Leary has qualified for share options worth more than €100mn after the airline’s shares hit a key performance target, paving the way for one of the biggest payouts in European corporate history. 

Shares in the low-cost carrier closed at €23.74 on Thursday, meaning they have closed above €21 for a 28th consecutive day, meeting one of two conditions attached to O’Leary’s bumper pay deal.

The 64-year-old will have to stay at Ryanair until the end of July 2028 to collect the share options — worth just over €111mn — as part of an incentive scheme agreed in 2019.

O’Leary, famous for his pugnacious style, defended his potential windfall earlier this month after Ryanair reported a fall in full-year profits. 

“I think we’re delivering exceptional value for Ryanair shareholders in an era when premiership footballers or the managers are getting paid €20mn to €25mn a year,” he said.

This is a developing story