Ryanair has extended Michael O'Leary's contract until 2032, including a bonus plan of 150 million euros, contingent on achieving certain financial targets.

Ryanair, the largest airline in Europe, has announced that CEO Michael O'Leary has extended his contract until April 2032, in an agreement that includes a bonus scheme of 150 million euros. O'Leary, known for his eccentric style, has transformed Ryanair from a regional carrier into a giant of low-cost aviation. Under the new agreement, O'Leary will have the option to purchase 10 million shares at a price of 26.70 euros per share, if Ryanair achieves an annual profit of 4 billion euros or if the share price exceeds 42 euros for 28 consecutive days. Ryanair recently reported a record profit of 2.26 billion euros, and O'Leary compared his rewards to the salaries of football stars. His remuneration will be subject to shareholder approval at the general meeting in September.