Ryanair's CEO is likely to be looking forward to a record bonus, which could top historical bonus payments in Europe. Over 1.1 billion kronor is expected to rain down on Michael O'Leary after the stock performed at its peak, reports the Financial Times.
Michael O'Leary, CEO of low-cost airline Ryanair, is on track for a bonus of 100 million euros (equivalent to just over 1.1 billion kronor at the current euro exchange rate), after the company's shares surged to record levels this week, reports the Financial Times, which has reviewed the company's incentive program.
The stock has risen by over 50 percent during the year, meaning that Ryanair is the airline in Europe that provides the best return for its shareholders.
The bonus scheme that could make Michael O'Leary billions states that stock options worth €100 million will be forfeited if the company's share price reaches €21 within 28 days. Alternatively, the company must have made a profit after tax of €2.2 billion for the bonus scheme to be redeemed.
According to analysts who follow Ryanair, the average share price is expected to reach 24 euros over the next twelve months. In terms of results, forecasts point to a profit after tax of between approximately 1.9 and 2 billion euros for the current financial year.
Michael O'Leary's expected bonus of 1.1 billion kronor could be among the highest ever in Europe, writes the FT. Through the option program, he will be given the right to buy 10 million shares for 11.12 euros each.
Source: DI.SE
