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The CEO of Ryanair is close to receiving a €100 million award

The CEO of Ryanair is close to receiving a €100 million award

The incentive scheme benefiting Michael O’Leary was originally due to end next year but was extended in December last year until 2028. Find out what the basis of this award is for the Ryanair CEO.

Ryanair CEO Michael O’Leary is close to receiving a €100 million bonus if the company’s shares continue to rise, according to information provided by the Financial Times and Bloomberg.

According to the low-cost airline’s 2019 bonus plan, Michael O’Leary can secure this €100 million prize if the Irish company’s bonds maintain a valuation of €21 for 28 consecutive days, according to the international business press. Payment will be made in the form of options to purchase 10 million shares at a price of 11.12 euros per share.

It should be noted that the company’s shares, which have risen more than 50% this year, have not yet reached this level, having closed on Friday with a record weekly valuation of 18.84 euros.

However, analysts are optimistic about the increased valuation of Ryanair shares, and these shares are expected to reach a price of 24.10 euros in the next 12 months, according to data compiled by Bloomberg.

The incentive plan benefiting Michael O’Leary was originally scheduled to expire next year, but was extended in December last year until 2028, according to information provided by the Financial Times, when the company’s shares at the time were less than 13 euros.

Irish low-cost airline Ryanair made net profits of €2,180 million in the first financial half (April-September), 59% higher than in the same period last year, when it made €1,370 million, the company announced in a statement. November.

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Ryanair attributes the recovery in profits to the “high performance” achieved during Easter in the first quarter, as well as passenger traffic in the summer, which reached “record values”, and higher ticket prices that “offset fuel costs.” “In the first half of the fiscal year, which will end on March 31, 2024.

The airline, Europe’s leader in the economy travel sector, explained in a statement that its revenues rose by 30% to 6.16 billion euros in the same period, during which it transported 105.4 million passengers (+11%).