Ryanair's O'Leary gets biggest bonus ever after profits soar

PA

Ryanair boss Michael O'Leary is taking home a big pay package after his budget airline made record profits last year.

According to the Scotsman, the outspoken chief executive pocketed an extra 18 per cent in his take home pay giving him a total of £1 million in the last financial year.

His basic salary of 595,000 euros rose to 768,000 euros and his bonus jumped from 440,000 euros to 504,000. He also holds around 51 million shares in the company, which are worth an estimated 203 million euros.

With rising fuel prices, Ryanair expects profits to be lower this year but posted a record profit of 503 million euros (up 25 per cent) last year.

Figures showed first-quarter profits were 29 per cent lower at 99 million euros and the company expects the yearly profits to be between 400 and 440 million euros this year.

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