Longtime Ryanair CEO Michael O'Leary could earn up to €150 million from his new six-year contract if the airline meets ambitious financial targets by 2032. The deal grants him a purchase option for 10 million shares at €26.70 each, which would net him a minimum gain of €153 million if shares reach €42 or profits hit €4 billion.

The compensation structure ties O'Leary's rewards to performance milestones, with a smaller annual salary and capped bonus. This replaces his previous contract ending in 2028 that required doubling earnings or an 80% share price rise. €150 million represents a significant step up from his last agreement, reflecting Ryanair's strong profitability despite recent share price volatility.

O'Leary, who has led Europe's largest airline for two decades and made himself a billionaire, says his pay philosophy links rewards directly to profit and share price growth. The airline's stock has doubled over the past decade but fallen 20% this year amid global aviation pressures. He initially sought a two-year deal but agreed to the extended term to ensure continuity.