Ryanair Boss Signs On to 2032 in Deal Worth Up to €150 Million

Michael O'Leary has extended his contract with Europe's largest budget carrier in a performance-linked package that could hand him more than £130 million before the decade is out.

Michael O'Leary has agreed a new contract running to 2032, his longest extension yet.
The deal includes a bonus scheme that could pay out more than €150 million (approximately £130 million) if performance targets are met.
Ryanair shareholders must approve the remuneration package at a forthcoming general meeting.
O'Leary has led Ryanair since 1994 and previously agreed a contract through 2028 before this extension was announced.
The airline's cheapest fares regularly sit below €10; O'Leary's potential bonus equates to roughly 15 million of them.

Michael O'Leary will remain chief executive of Ryanair until at least 2032 under a new contract announced this week, capping a tenure that began in 1994 and shows no sign of becoming a bargain.

The remuneration package includes a performance-related bonus scheme that could yield more than €150 million — approximately £130 million at current rates — if the airline hits agreed targets over the contract's life.

Ryanair shareholders are required to vote on the arrangement at a general meeting; the board has indicated it supports the deal. The airline posted a net profit of €1.92 billion in the 12 months to March 2024, which the company cited as context for the package's scale.

O'Leary's previous contract ran to 2028. The new deal adds four years and, depending on where the share price and profit metrics land, somewhere between a comfortable retirement and a figure that would buy a meaningful slice of a small country.

Ryanair currently advertises seats from €9.99. The potential bonus, divided by that fare, comes to just under 15 million flights — all of them, presumably, middle seat.