Shares in the low-cost airline have risen more than 50% this year, making Ryanair by far Europe’s largest airline by market value.
The terms of the bonus were agreed with O’Leary in 2019 and see him gain options worth almost €100 million if Ryanair shares remain at or above €21 for 28 days or if Ryanair achieves an annual net profit of at least 2.2 billion euros.
Fulfillment of the conditions would give O’Leary the right to subscribe for 10 million shares in the company at a price of 11.12 euros each. It would be one of the largest bonuses in the history of European business, notes the Financial Times.
Analysts following the company’s shares have set an average price target of 24 euros for the next 12 months, and the company expects a net profit of between 1.85 and 2.05 billion euros for the financial year ending in March.
The incentive plan was initially supposed to last until 2024, but last year it was extended until 2028.
O’Leary was paid €925,000 in the last financial year, but he also owns 3.9% of Ryanair – the shares have a market value of around €907 million.
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2023-12-18 11:22:00
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