DUBLIN- Ryanair (FR), Europe’s largest low-cost airline, is nearing a significant executive milestone as its shares remain at record highs. If the share price continues its streak above €21, CEO Michael O’Leary may secure a €100 million bonus.
The shares have traded above the threshold since May 2, for 24 consecutive days, putting O’Leary just four days away from triggering the bonus clause. Ryanair’s strong financials and shareholder returns are key drivers behind the surge.

Ryanair CEO €100M Bonus
Michael O’Leary, CEO of Ryanair (FR) since 1994, is on the brink of earning a €100 million bonus if the airline’s share price remains at or above €21 for 28 consecutive days.
As of now, the stock has sustained this level for 24 days, making the target achievable within the week.
This payout forms part of a long-term incentive plan introduced in 2019 and extended in 2022 when O’Leary renewed his contract for another five and a half years.
Under the terms, he would only receive the bonus in 2028 and must remain with the company until then.
O’Leary defended the payout, comparing it to compensation packages for top-tier footballers and coaches, arguing that Ryanair (FR) continues to deliver value to shareholders.
The share price hit a record following a full-year profit report of €1.6 billion, despite a 16% decline from the previous year.

Market Performance
The airline’s financial performance remains strong. Alongside the profit announcement, Ryanair introduced a €750 million share buyback plan.
The move likely contributed to the share price increase, aiding O’Leary’s progress toward the bonus trigger.
Barclays analysts flagged concerns over corporate governance, noting that the share buyback, approved by a board that includes O’Leary, could influence the stock price and benefit his bonus terms. These concerns have sparked debate among corporate watchdogs.

Public Perception
Despite its financial resilience, Ryanair (FR) has faced ongoing public criticism. Consumer group Which? ranked the airline the worst for short-haul travel, citing issues such as seat comfort, boarding process, and cabin cleanliness.
It is also called the airline’s value “mediocre,” undermining its reputation among passengers.
Ryanair responded by forecasting a 5-6% fare increase in 2025. The company attributed the decline in annual profit partly to reduced ticket prices, suggesting higher fares may restore profitability.

O’Leary’s Leadership
At 64, Michael O’Leary is one of Ireland’s wealthiest individuals, with an estimated net worth of $1.1 billion, according to Forbes.
Under his leadership, Ryanair has become Europe’s largest budget airline, known for aggressive pricing and cost discipline.
The last time Ryanair shares stayed above €21 for any meaningful duration was just five days, back in March 2024.
O’Leary remains cautious, acknowledging that “a lot can happen between now and then,” though momentum remains in his favor.
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