Michael O’Leary has agreed to extend his contract with Ryanair by a further four years to 2032, in a deal that could net him €153 million by way of a stock options plan.
The budget carrier said that the new contract with its chief executive will run until April 2032, within weeks of the executive turning 71, with the deal having been agreed following “months of discussion” with O’Leary and “extensive engagement with the group’s largest shareholders”.
O’Leary is 65 years of age. His current contract runs out in 2028.
The new contract includes a “modest annual salary and a capped annual bonus”, the group said in a statement. He has been on an annual salary of €1.2 million and is entitled to a maximum bonus equating to 50 per cent of his base pay since 2024.
O’Leary, who has led Ryanair since 1994, also qualifies for a new one-off purchase option over 10 million shares in Ryanair under the new deal. Subject to O’Leary remaining in employment with the group until April 2032, he will be able to buy the shares at a price of €26.70 – the level at which the shares were trading before the war in Iran – if the share price exceeds €42 for 28 consecutive days until the end of March 2032.
The awards are exercisable if Ryanair’s annual net profit breaches the €4 billion level. Its profit for the year to March amounted to €2.26 billion.
The share awards would be worth €153 million upon Ryanair’s stock hitting the €42 per share level.
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“As previously announced, this spring the board commenced discussions with MOL on his contract,” said Ryanair chairman Stan McCarthy. MOL stands for Michael O’Leary.
“I am pleased to report that this process, which included extensive engagement with Ryanair’s largest shareholders, has successfully concluded with Michael agreeing to extend his leadership of the Ryanair Group for the next 6-years to April 2032, for the benefit of all shareholders.”
The fresh contract comes a year after O’Leary qualified for share options worth about a net €100 million to him at the time, after the airline’s shares hit a key performance target.
Shares closed at more than €21 for a 28th consecutive day in May 2025, meeting one of two conditions attached to Mr O’Leary’s bumper pay deal. The executive will have to stay at Ryanair until the end of July 2028 to collect the share options.
With Ryanair’s shares currently changing hands at about €25.75 on Friday, having rallied more than 8 per cent this week after the US and Iran a peace plan, the net value of that options plan is also currently worth close to €150 million.
O’Leary had almost 44.1 million shares in Ryanair in March 2025, according to the carrier’s most recent annual report. He raised more than €45 million last summer selling off almost 1.9 million of those shares.
His remaining holding is worth more than €1 billion. This excludes any impact from the two major stock options packages.
Read the full article at The Irish Times →📄Source document: Ryanair Statement
2 reports
RTÉ NewsState / PublicCenter2 days agoRyanair has announced that its CEO, Michael O'Leary, has extended his contract through 2032, including a potential bonus scheme worth over €150 million. The extension follows discussions that had nearly finalized the deal. O'Leary has led the airline since 1994, growing it into Europe's largest carrier by passenger numbers. The new terms include options for O'Leary to purchase shares under specific financial conditions tied to the company’s performance. Ryanair reported a record post-tax profit of €2.26 billion last year, though its current share price remains below the threshold outlined in O
Bias read (Center): The article provides factual information about a business decision involving a corporate executive's contract extension. It does not take a stance on the decision itself, nor does it present any overtly positive or negative framing toward the subject. The content focuses on contractual details, past
Official sources cited
- organisation Ryanair Statement
The Irish TimesIndependent🔒Center2 days agoMichael O’Leary, CEO of Ryanair, has agreed to extend his contract with the airline until 2032. The extension includes a potential €153 million payout through a stock options plan, contingent on specific financial conditions being met. The new contract includes a modest annual salary and a capped annual bonus. O’Leary will also have the opportunity to purchase 10 million shares at a predetermined price, provided certain performance metrics are achieved.
Bias read (Center): The article presents factual details about a business contract without overtly favoring any political perspective. It reports on financial terms, contractual agreements, and corporate decisions without using biased language or omitting key contextual information.
Official sources cited
- organisation Ryanair Statement
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