Michael O'Leary Extends Ryanair Contract to 2032, Bonus Scheme Worth £130 Million

Michael O'Leary, the long-serving chief executive of Ryanair, has agreed to extend his contract until April 2032. The new agreement includes a lucrative bonus scheme that could see him net more than €150 million (£130 million).

Since assuming the chief executive role in 1994, O'Leary has overseen Ryanair's transformation from a regional carrier into Europe's pre-eminent low-cost airline.

Under the terms of the extension, O'Leary will be granted the option to purchase 10 million shares at €26.70 per share. This entitlement is contingent upon the airline achieving an annual profit of €4 billion or if its share price sustains above €42 for 28 consecutive days.

Ryanair stated that the