Sunday 20 August 2017

O'Leary sees bonus fall by almost half as profits treble

John Mulligan

John Mulligan

Ryanair chief executive Michael O'Leary's bonus was nearly halved in the airline's last financial year to €241,000 even as the company's profits nearly trebled to €319m in the 12 months to the end of March.

In its annual report published yesterday, the accounts note that Mr O'Leary received a basic salary of €595,000 in the last fiscal year. That was unchanged from the previous year, when Mr O'Leary took a voluntary 10pc pay cut.

He is Ryanair's only executive director, and owns just over 4pc of the company. He is in line for a €20m payout this autumn when shareholders approve a €500m dividend payment, the first of two such payments the airline is likely to make in the next couple of years.

Ryanair's staff costs rose 8.3pc to €335m last year as it added more employees.

Irish Independent

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