Ryanair boss Michael O’Leary on track for 100 million euro bonus

Ryanair boss Michael O’Leary is on track to receive more than 100 million euros (£84.2 million) worth of share bonuses.

The longstanding boss has qualified for the share options after shares in the Dublin-based company hit a six-year-old target.

Shares in the budget airline have met a requirement to close above 21 euros for a 28th consecutive day.

The share rule was set up in February 2019, requiring the consistently high level of shares before 2028.

It would provide him with 10 million shares worth around 111.2 million euros (£93.4 million).

Mr O’Leary will receive the share package if he stay with the business, which he has led since 1994, until 2028.

Ryanair shares sat at 23.28 euros on Friday despite dipping slightly from their peak the previous day.

Ryanair has been contacted for comment.

When asked about the share option earlier this month, Mr O’Leary said: “I think we’re delivering exceptional value for Ryanair shareholders in an era when Premiership footballers and managers are getting paid 20-25 million a year.

“I think Ryanair shareholders are getting a particular value out of our share options – both mine and the rest of the management team.”

Rival low-cost rival carrier Wizz Air has a similar pay pledge for its chief executive Jozsef Varadi, which would provide him with £100 million worth of bonuses if its share reached £120 by 2028. Its shares are currently valued at around £16.