Ryanair chief Michael O’Leary has extended his contract with the budget airline in a deal which could put him in line for a €153million (£133million) pay day.
Under the deal, the 65-year-old will be granted lucrative share options subject to him remaining at the group until April 2032 and if annual profit reaches €4billion - or if the share price exceeds €42 for 28 successive days
‘Achievement of these very ambitious targets would create substantial additional value for all Ryanair shareholders,’ the airline said in a statement.
O’Leary has been the dominant force at the airline since taking over as chief executive in 1994, transforming it from a small regional carrier to Europe’s largest by passenger numbers.
Extended: Ryanair chief Michael O’Leary has extended his contract with the budget airline
