Ryanair boss Michael O’Leary could personally benefit to the tune £44 million (€50 million) due to the good performance of the budget carrier.

The carrier’s chief executive has an option for five million shares which is due to vest in 2019 assuming the firm hits targets and he remains in position.

This can be exercised at €8.35 a share, according to TheSunday Times, however the airline is currently trading at an all-time high of around €18.20.

If the share price remains this level O’Leary’s option would be worth €91 million, €50 million above its exercise price.

It was claimed the surge in shares value is down to Ryanair’s conversion to the benefits of treating its customers better which has seen its performance improve.

When O’Leary’s share option was granted in 2014 the carrier was forecast to hit 120 million passengers by 2019, a landmark it achieved last year.

Last week Ryanair reported pre-tax profits of €1.32 billion, an achievement attributed to its “Always Getting Better” to improve the customer experience.