Ryanair boss Michael O’Leary is sitting on a potential €50m (£44m) paper profit following the airline’s shares soaring last week.
In 2014, O’Leary received options over 5m Ryanair shares which can be exercised at €8.35 a share in 2019 if he hits “exceptional performance targets”. This means the airline boss can earn over €41m.
The no-frills airline’s shares hit €18.68 (£16.35) last week following the company reporting a pre-tax profit of almost €1.32bn for last year.
Ryanair’s shares closed at €18.20 last week. This puts a paper value of O’Leary’s share profit at €91m, €50m above the exercise price.
The Irish carrier's revenues were up two per cent to €6.6bn while traffic on Ryanair flights grew 13 per cent to 120m customers.