Ryanair extends O'Leary contract to 2032 with €150m bonus

Ryanair Group Chief Executive Michael O'Leary has agreed to a new contract that will keep him at the helm of the low-cost airline until April 2032, a deal that includes a potential share-based bonus worth more than 150 million euros. The agreement, announced by the airline's board, concludes months of discussions and extensive engagement with the company's largest shareholders.

Under the terms of the six-year extension, O'Leary will be granted a one-off purchase option for 10 million Ryanair shares at a fixed price of 26.70 euros per share. The option is contingent on him remaining with the group until the contract's conclusion in 2032 and on the achievement of what the company described as "very ambitious performance targets." The full award will only be granted if Ryanair's full-year profit after tax exceeds 4 billion euros, or if its ordinary share price rises to more than 42 euros for 28 consecutive days before March 31, 2032. At that higher share price, the paper profit on the option would be approximately 153 million euros.

Ryanair Chairman Stan McCarthy stated that the board was pleased to have concluded the process, which began this spring. He emphasized that the...