Latest news with #JozsefVaradi
Malay Mail
2 days ago
- Business
- Malay Mail
Jackpot! Ryanair CEO O'Leary set for €111m bonus as shares surge
DUBLIN, May 31 — Ryanair boss Michael O'Leary is on track to receive more than €100 million (US$113.6 million) worth of share bonuses, reported PA Media/dpa. 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 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. 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 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, 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 (US$135 million) worth of bonuses if its share reached £120 by 2028. Its shares are currently valued at around £16. — Bernama/dpa
BreakingNews.ie
3 days ago
- Business
- BreakingNews.ie
Ryanair boss Michael O'Leary on track for €100m bonus
Ryanair chief executive Michael O'Leary is on track to receive more than €100 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. Advertisement Shares in the budget airline have met a requirement to close above €21 for a 28th consecutive day. The share rule was set up in February 2019, requiring the consistently high level of shares before 2028. Ryanair shares sat at €23.28 euros on Friday. Photo: Peter Byrne/PA It would provide him with 10 million shares worth around €111.2 million. Mr O'Leary will receive the share package if he stays with the business, which he has led since 1994, until 2028. Advertisement Ryanair shares sat at €23.28 on Friday despite dipping slightly from their peak the previous day. Ryanair has been contacted for comment. Ireland Ryanair to raise prices as it seeks return to prof... Read More 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.' Advertisement 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 (€118) worth of bonuses if its share reached £120 by 2028. Its shares are currently valued at around £16.
The Independent
3 days ago
- Business
- The Independent
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.
Yahoo
12-02-2025
- Business
- Yahoo
Wizz Air to resume flights to Ukraine within six weeks if ceasefire comes into effect
Wizz Air intends to resume flights to Ukraine shortly after a ceasefire with Russia is announced, restoring about 30 inbound routes within six weeks. Source: Reuters Quote from Chief Executive Jozsef Varadi: "We have a firm plan for the restart of Ukraine, because I think it can happen any moment." Details: Jozsef Varadi said that the European Union Aviation Safety Agency estimates that it will take six to eight weeks to reopen Ukraine's airspace safely, and Wizz Air is preparing for that. Chief Executive said that within six months of the end of the conflict, Wizz Air will reopen its bases in Kyiv and Lviv and initially plans to supply the Ukrainian market with around 5,000,000 seats a year on 60 routes. Before the war in 2021, Wizz Air was No. 3 on the Ukrainian market with a 10.1% share. Background: Low-cost airline Wizz Air has cut its profit forecast for the second time in six months, which caused its shares to fall by 16% in early trading. The company is trying to solve the problem of landing its planes due to engine problems. Support UP or become our patron!
Al Arabiya
11-02-2025
- Business
- Al Arabiya
Wizz Air aims for restart of Ukraine flights within six weeks of any ceasefire
Wizz Air aims to restart flights to Ukraine shortly after the announcement of any ceasefire with Russia, reinstating about 30 inbound routes within six weeks, Chief Executive Jozsef Varadi told Reuters on Tuesday. 'We have a firm plan for the restart of Ukraine, because I think it can happen any moment,' Varadi said. 'Once a ceasefire is announced, then we would look at our restart.' Varadi said the European Union Aviation Safety Agency estimates it would need six-to-eight weeks to safely reopen Ukrainian airspace and Wizz Air was getting ready for that. US President Donald Trump has pledged to bring a swift end to the nearly three-year war in Ukraine and contacts between Russia and the US have intensified, but Kremlin spokesperson Dmitry Peskov said on Tuesday there was nothing more to add for now. Within six months of the conflict ending, Wizz Air would restart operating bases in Kyiv and Lviv, Varadi said, initially aiming to supply an annualized capacity of about 5 million seats a year to the Ukrainian market across 60 routes. Prior to the war in 2021, the low-cost airline was No. 3 in the Ukrainian market with a 10.1 percent share. Rival airline Ryanair has also said it would start flying to Ukraine once the war ends. Wizz Air cut its annual net income forecast for the second time in six months in January, as it grapples with rising costs related to the grounding of some 20 percent of its fleet due to engine problems and economic uncertainties. However, Varadi expects the economic outlook to improve and for capacity to increase by about 20 percent in the 2025 fiscal year on the expected delivery of 50 new Airbus aircraft between April 1, 2025 and March 31, 2026. 'That is a significant source of growth and also we are recovering some of the engine-related grounded aircraft and they will go back into service,' he said. 'So if I look at the kind of the next two years of capacity, we're going to be able to add around 80 lines of flying to the business,' he said. Shares in some European airlines fell on Tuesday, with Wizz Air down 6.9 percent by 1304 GMT, with analysts pointing to TUI Group , Europe's largest travel operator, having flagged a slowdown in bookings.
