Ryanair boss Michael O’Leary extends contract until April 2032

Budget airline Ryanair has agreed a deal with Michael O’Leary, extending his contract as group chief executive until April 2032.

The group said his new contract includes “a modest annual salary and a capped annual bonus”.

He will qualify for another 10 million shares in the carrier if he achieves certain targets during his new contract term.

He would be able to buy the shares at €26.70 each if Ryanair’s full-year profit after tax exceeds €4 billion, or if the share price rises to more than €42 for 28 consecutive days.

Reports noted that, even at €42, that would mean he would make a paper profit of €153 million.

The Irish Independent noted: “Mr O’Leary’s stake in Ryanair is worth more than €1bn.

“He has also reaped hundreds of millions of euros from share sales and dividends in the airline since he took over as CEO in 1994.”

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A statement from the airline group said: “Achievement of these very ambitious targets would create substantial additional value for all Ryanair shareholders.”

Ryanair chairman Stan McCarthy said: “As previously announced, this spring the board commenced discussions with MOL [Michael O’Leary] on his contract.

“I am pleased to report that this process, which included extensive engagement with Ryanair’s largest shareholders, has successfully concluded with Michael agreeing to extend his leadership of the Ryanair Group for the next six years to April 2032, for the benefit of all shareholders.”

The remuneration policy, reflecting the new arrangements with O’Leary, will be tabled for an advisory vote at Ryanair’s 2026 annual general meeting in September.