Ryanair's Chief Executive, Michael O'Leary, is on track to receive a colossal bonus of €100m (£84.2m) after the airline's shares reached a crucial performance benchmark.
On Thursday, Ryanair's shares closed at €23.74, marking the 28th consecutive day that the stock has closed above the €21 target set for O'Leary as part of an incentive scheme introduced in 2019, as reported by .
This means that the only obstacle preventing the Irish executive from securing one of the largest payouts in European business history, through share options, is if he departs before July 2028.
O'Leary, known for his straightforward approach, has dismissed objections to the award as "mewling nonsense."
"If I do get it [the €100m bonus], all the City types will be railing against excessive executive pay and I'm not putting up with any of that," he told the Telegraph last April.
Earlier this month, he defended the award, stating: "I think we're delivering exceptional value for Ryanair shareholders in an era when premiership footballers or the managers are getting paid €20mn to €25mn a year."
Ryanair enjoying record passenger traffic
Despite reporting a significant drop in full-year profit earlier this month due to falling airfares, Ryanair, Europe's largest airline by passenger numbers, celebrated record annual passenger traffic of 200.2 million, up nine per cent year-on-year, as travel demand continues to surge in the post-Covid era.
Ryanair's budget competitor, Wizz Air, has also faced criticism over its remuneration policy.
Chief executive József Váradi is significantly distant from a potential £100m award, which hinges on the company's shares meeting specific targets by 2027.
He has previously labelled criticism of the Hungarian airline's remuneration policy as "socialist."
