Ryanair extends O'Leary's CEO contract up to 2032

Ryanair Group CEO Michael O'Leary will continue to lead the budget airline for another six years, with his contract extended until April 2032. The agreement follows extensive discussions with O'Leary and engagement with the airline's largest shareholders.

Under the new terms, O'Leary is granted options to purchase 10 million shares at a strike price of €26.70 each. However, the exercise of these options is contingent upon achieving "very ambitious" performance targets set by the company. This incentive structure aims to align O'Leary's compensation with the airline's future success.

Ryanair stated that O'Leary's overall pay package includes a "modest annual salary and a capped annual bonus." This compensation structure will be presented to shareholders for an advisory vote at the group's upcoming annual general meeting later this year, allowing them to voice their opinion on the executive's remuneration.