Ryanair cuts Michael O’Leary pay in half under new contract
Ryanair Holdings will cut CE Michael O’Leary’s pay by 50% to E500,000 and reduce his bonus to a maximum of the same amount, according to its annual report. The document shows that Ryanair paid O’Leary E3.73m in the 12 months to March 31st, which included basic pay of E1.058m, a bonus of E768,000 and share-based payments of E1.547m. He waived his bonus during the preceding 12 months, following flight cancellations sparked by a pilot roster mix-up. O’Leary began a new 5-year contract as group CE April 1st that will run until July 31st, 2024. O’Leary agreed a 50% cut in basic pay to E500,000 a year from E1m a year under the new contract, and a 50% cut to his maximum bonus to E500,000 a year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-07-31/unaligned/ryanair-cuts-michael-o2019leary-pay-in-half-under-new-contract
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Ryanair cuts Michael O’Leary pay in half under new contract
Ryanair Holdings will cut CE Michael O’Leary’s pay by 50% to E500,000 and reduce his bonus to a maximum of the same amount, according to its annual report. The document shows that Ryanair paid O’Leary E3.73m in the 12 months to March 31st, which included basic pay of E1.058m, a bonus of E768,000 and share-based payments of E1.547m. He waived his bonus during the preceding 12 months, following flight cancellations sparked by a pilot roster mix-up. O’Leary began a new 5-year contract as group CE April 1st that will run until July 31st, 2024. O’Leary agreed a 50% cut in basic pay to E500,000 a year from E1m a year under the new contract, and a 50% cut to his maximum bonus to E500,000 a year. <br/>
