Ryanair's CEO, Michael O’Leary, finds himself in line for a jaw-dropping bonus exceeding €100 million as the airline's shares have met the necessary criteria to trigger his bonus scheme, positioning him for one of the most substantial payouts in the annals of European business. The budget airline's shares closed at €23.74 on May 29, 2025, having hovered above €21 for a consecutive 28-day stretch – a key target stipulated by O’Leary's incentive plan implemented in 2019.

Under the terms of the plan, O’Leary is entitled to acquire 10 million shares at €11.12 each upon the attainment of specific benchmarks, which encompass either achieving an annual profit surpassing €2.2 billion or upholding the share price above €21 for 28 consecutive days from April 1, 2021, to March 31, 2028. Should either of these conditions be met, O’Leary stands to garner a potential bonus exceeding €100 million. The only obstacle that could thwart his receipt of the bonus presently is him vacating his role as CEO before July 2028.

O’Leary's contractual agreement with Ryanair was recently signed off in December 2022, extending his tenure as CEO until the culmination of the 2027-2028 fiscal year, with the bonus scheme already factored into the agreement. When probed about the potential bonus during an analyst call in May 2025, O’Leary staunchly defended it, stating, “I believe we are providing exceptional value for Ryanair shareholders at a time when Premier League footballers and managers are raking in 20-25 million annually.”

However, not all opinions resonate with O’Leary's stance. Luke Hildyard, CEO of the High Pay Centre, a firm specializing in research concerning high incomes, corporate governance, and business performance, criticized the payout as “excessive.” Hildyard remarked to The Guardian, “Doling out an additional €100m to someone who is already a billionaire raises ethical concerns and is an ineffective manner of distributing wealth within large corporations.”

During his illustrious career at Ryanair, O’Leary has stood as a Director of the airline since 1988 and a Director of Ryanair Holdings since 1996. Having assumed the role of CEO in 1994 and subsequently being appointed Group CEO in April 2019, O’Leary has held the position of CFO since 1988.