A week of highs and lows for Ryanair's O'Leary

Irish Post

2 days ago

IT'S been a mixed week for Ryanair and its outspoken CEO Michael O'Leary, who is poised to secure one of the largest payouts in European history, even as the airline deals with setbacks and public criticism.
O'Leary is in line to receive a bonus package worth over €100 million, contingent upon two key conditions in a long-term incentive scheme created in 2019. The first, Ryanair's share price remaining above €21 for 28 consecutive trading days, has already happened. The second requires that O'Leary remain CEO until at least 2028.
If all runs smoothly, the plan allows O'Leary to purchase 10 million shares at a discounted rate of €11.12, potentially earning a windfall of over €111 million. O'Leary, who has led Ryanair since 1994, has already amassed nearly €930 million in company stock and earns a base salary of €1.2 million annually. The average Ryanair flight crew salary ranges from 1,200 to 1,500 a month.
Defending the payout, O'Leary compared it to sports industry salaries, stating during an earnings call, 'In an era where footballers and their managers are earning €20 to €25 million annually, I think we're delivering exceptional value to investors.'
However, the sheer scale of it has drawn criticism. The High Pay Centre, a UK-based think tank, argued that no single executive should receive such a disproportionate reward, particularly when most employees will never earn even a tenth of that over their entire lives.
The controversy over executive pay comes amid broader debates in Europe about adopting U.S.-style compensation models to keep top talent, with other executives like Wizz Air CEO József Váradi also in line for a potential nine-figure bonus.
While O'Leary's bonus raises eyebrows, Ryanair is also under scrutiny for pulling out of Maastricht-Aachen Airport, effective October 26, 2025. The airline cited 'excessive' cost increases and Dutch aviation taxes as reasons behind the withdrawal.
Ryanair currently offers routes from Maastricht to popular destinations including Alicante, Barcelona, Bari, Porto, and Zadar. Once it exits, only one other airline, Corendon, will continue operating from the Dutch regional airport.
'This is a direct result of unsustainable cost hikes and the Dutch government's aviation tax, which has jumped by 275% since 2021,' said Ryanair CCO Jason McGuinness, according to the Brussels Times. 'Maastricht has become one of the most expensive airports in Europe.'
Airport officials disagreed, claiming that Ryanair's requested fees were significantly lower than those charged at other Dutch airports, and despite months of negotiations, a mutual agreement could not be reached.
The airline also faces ongoing criticism over its seating policy, which often separates passengers from their travel companions unless they pay extra. While not a mandatory fee, the practice has prompted anger among travellers, especially those unaware of the system.
But then, as O'Leary has pointed out in the past, Ryanair flights are 'full of passengers who have sworn they'll never fly with us again.'.
In another setback, a Ryanair flight from Berlin to Lisbon was abruptly cancelled this week after an onboard incident involving a group of unruly passengers. According to The Portugal News, several Portuguese passengers were removed by German police after being disrespectful to a flight attendant.
Although the flight was scheduled to depart Berlin at 20:20 local time, the disruption led to its cancellation later that evening. The incident has fuelled further criticism of Ryanair's passenger management and flight disruption protocols.
As Ryanair celebrates strong market performance and prepares for a potential record-breaking bonus for O'Leary, it must also deal with a wave of public scrutiny that underscores the challenges of running Europe's largest low-cost airline.
See More: Michael O'Leary, Payout, Ryanair