DUBLIN (Reuters) – Ryanair’s Chief Executive Michael O’Leary could earn almost 100 million euros ($113 million) if he doubles either the profitability or share price of the carrier within five years, under a new share option scheme announced on Friday.
O’Leary said on Monday he would stay for another five years at Europe’s largest low-cost airline, which announced a 20 million euro loss for the third quarter due to weaker fares.
Options - Scheme - Option - Shares - Share
Under the new options scheme he will be granted the option of buying 10 million shares at the current share price of 11.12 euros if he either increases annual profit to 2 billion euros from a forecast of 1-1.1 billion in the current financial year, or if the share price rises to 21 euros, the airline said.
“The terms of the options will require him to double Ryanair’s profitability to 2 billion euros per annum and/or increase the share price to 21 euros per share over the next five years to qualify for all of these options,”...
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