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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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