Ryanair boss O’Leary could be set for an £85m bonus as the airline looks to recover from pandemic turbulence
Ryanair boss Michael O’Leary could be set for a lucrative £85m payout despite the turbulence that the travel industry has experienced in the last 18 months.
The Irish businessman stands to land the money should Ryanair’s stock hit €21 or above for a 28-day period between 2021 and 2024.
It could also be triggered if Ryanair’s profits double to €2bn.
Ryanair’s shares currently come in at €16.74, up 27p from where they closed on Friday.
Like other airlines and travel companies the pandemic has battered the firm. It is said to have lost £900m over the course of the pandemic.
The airline group posted a net loss of €273m for its first quarter — the three months to the end of June.
However, it last week announced that it could make a profit for the second quarter and even break even for the financial year.
Such bullish statements, as well as a return of some holiday destinations, have impressed investors and shares have since risen.