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Ryanair, one third of shareholders said no to O'Leary bonus

CEO of low-cost carrier collected 458,000 euros

This bonus doesn't have to be done. Like in Alessandro Manzoni romance "I promessi sposi", this phrase fits perfectly to describe what happened yesterday, Thursday 17 September 2020, during the vote on the salaries of CEO of Irish airline Ryanair. Shareholders of air carrier supported and approved the 45,000 Euros envisaged for Michael O'Leary, even if this is not the figure that aroused the greatest sensation. A third of the same unitholders said no to the bonus; the latter was judged “exaggerated” in a moment of crisis in the sector like the one we are facing now. The same happened in July with the payment received by the Wizz Air administrator Joszef Varadi.

The remuneration report included precisely the bonus which partly divided Ryanair's shareholders. The percentages are easy to say: 65.8% supported O'Leary , while the remaining 34.2% did not. Annual report of the Dublin company highlighted a reduction in the salary of the CEO until the end of March 2020 for a total amount of 500 thousand euros; the CEO pointed out this aspect, inviting to look for another manager who has been applied the same type of salary cut. In the last few hours, the low-cost carrier has ended up at the center of the Irish news and not only because of a lawsuit against the State and the anti-covid restrictions imposed (read AVIONEWS).

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AVIONEWS - World Aeronautical Press Agency