Michael O'Leary set to have funds for horse buying spree as Ryanair stocks soar
Michael O'Leary may soon have a sizable sum for his horse-buying interests, as the Ryanair chief is set to receive over €100 million in share bonuses.
The longtime CEO has qualified for the payout after Ryanair's stock reached a performance milestone set six years ago.
Shares in the Dublin-based budget airline have closed above €21 for 28 consecutive trading days, meeting the threshold established in February 2019. The condition required this sustained share price level to be achieved before 2028.
It would provide him with 10 million shares worth around 111.2 million euros (£93.4 million).
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.
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Irish Examiner
37 minutes ago
- Irish Examiner
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The Irish Sun
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