Ryanair chief Michael O’Leary lands bumper bonus

RYANAIR boss Michael O’Leary has seen his pay package soar to fresh heights after steering the budget airline to record profits last year.

The outspoken chief executive pocketed an 18 per cent increase in his take home pay to €1.3 million (£1m) in the year to 31 March.

O’Leary’s basic salary rose to €768,000 from €595,000, while his bonus jumped to €504,000 from €440,000. He also holds about 51 million shares in the company, which are worth about €203m.

Ryanair posted a record profit of €503m, up 25 per cent on the previous 12 months, but expects profits to be lower this year, at between €400m and €440m after being hit by rising fuel prices.

Figures released this week showed first-quarter profits were 29 per cent lower at €99m.