O'Leary sees bonus fall by almost half as profits treble
Published 23/07/2010 | 05:00
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.