Ryanair CEO Set for €100 Million Bonus Payout
Ryanair CEO Michael O’Leary is in line for a bonus exceeding €100 million after the airline’s share price hit a key target in its long-term incentive plan. On May 29, 2025, Ryanair’s stock closed at €23.74, having remained above the €21 threshold for 28 consecutive trading days, a milestone established under a 2019 performance agreement. The bonus scheme entitles O’Leary to acquire 10 million Ryanair shares at €11.12 each if certain financial or market-based targets are met between April 2021 and March 2028. One path to eligibility required the company to either earn more than €2.2 billion in annual profit or sustain a share price above €21 for 28 straight days, a condition that has now been fulfilled.
However, the bonus is contingent on O’Leary remaining at the helm of the low-cost airline until at least July 2028. His current contract, renewed in December 2022, secures his role as Group CEO through the end of the 2027-2028 financial year, ensuring he remains eligible for the performance-linked equity payout. If he remains in position through that period, he stands to make one of the largest executive payouts in European corporate history.
O’Leary addressed the bonus earlier in May during an investor call, emphasizing that Ryanair’s performance had generated significant returns for shareholders. He compared the bonus to compensation figures in the sports world, saying, “We’re delivering exceptional value for Ryanair shareholders in an era when Premiership footballers and managers are getting paid 20-25 million a year.” His comments followed the release of Ryanair’s full-year financial results for FY2024-2025, which showed a profit after tax of €1.61 billion. While this marked a 16 percent decline from the previous year’s €1.92 billion, the airline maintained strong performance metrics amid fluctuating fuel prices and capacity pressures across Europe.
Despite O’Leary’s defense, the potential payout has not escaped criticism. Luke Hildyard, CEO of the High Pay Centre, called the bonus “excessive” and questioned the logic behind allocating such large sums to executives who already possess significant wealth. Hildyard argued that distributing €100 million to an individual with billionaire status is neither morally justifiable nor an efficient method for wealth distribution within major corporations. His comments reflect growing scrutiny over executive compensation in the aviation sector, particularly as airlines navigate high inflation, labor disputes, and rising travel demand.
O’Leary’s long-standing influence at Ryanair is undeniable. He joined the company as CFO in 1988 and became CEO in 1994. In April 2019, he was appointed Group CEO of Ryanair Holdings, overseeing the broader airline group’s strategy and operations. His leadership has been credited with transforming Ryanair into one of Europe’s largest and most profitable low-cost carriers. As the airline continues to expand its network and fleet, O’Leary’s tenure looks set to remain central to Ryanair’s long-term strategic ambitions—along with a performance bonus that now appears within reach.
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