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Ryanair CEO sees 82 pct rise in bonus

Tue 2th Aug 2011

Following a 26% surge in profits, Ryanair paid Micheal O'leary a 82.5% increase on his yearly bonus which, when added to his 595,000 basic salary, took his total earning for the year to almost 1.1 Million.

Although the CEO's basic salary remained unchanged on the previous year, his bonus grew from 240'000 to 440'000.

The airline's net profit increased 26% on last year, reaching 400.7 million.

The 8 Ryanair board directors and nine executive officers drew a combined salary of of 5.2 million for the same period, compared with 4.5 million in the previous year.

The airline's fuel expenditure last year grew by 37%, reaching 1.2 billion last year - 40% of total operating costs.

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