Business Irish

Tuesday 16 September 2014

Michael O'Leary's pay lifts off

Published 31/07/2014 | 02:30

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Ryanair chief Michael O'Leary's total pay package increased to €1.8m this year.

His total remuneration, made up of €1m in salary and €800,000 in bonuses in the 2014 fiscal year ending in March, was up from a combined €1.3m last year. The 2013 figures were made up of an €800,000 salary and €500,000 bonus.

The figures are contained in the airline's annual report published yesterday.

Earlier this month, in an interview with the Irish Independent, the aviation chief confirmed that he has signed up to stay at the reinvented Ryanair for at least five years.

The extension will bring him up to the age of 58.

He said it was too early to say whether he will remain on beyond that time scale.

However, he insisted that he couldn't imagine himself still being there by the time he becomes eligible to draw the State pension.

Ryanair has seen a number of senior departures this year, notably deputy chief executives Michael Cawley (60), who left in March, and Howard Millar who said last month he would leave at the end of the year.

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