Michael O'Leary's overall pay packet jumps 33% to €3.2m

Ryanair chief executive Michael O'Leary's remuneration package jumped 33 per cent to €3.2 million in the 12 months to March 31st this year.

According to the airline’s 2015 annual report, published today, Mr O’Leary’s share-based compensation more than doubled from €500,000 to €1.3 million, leading to an increase in overall pay.

His annual bonus of €900,000 was unchanged, as was his €1 million annual salary.

Shareholding

The annual report shows Mr O’Leary’s remuneration package is exceeded by the value his overall shareholding, which totals 50.09 million shares or 3.7 per cent of the airline.

The airline's board of directors, which includes former minister for finance Charlie McCreevy, former secretary general at the Department of Transport Julie O'Neill and PayPal's vice-president of global operations (EMEA) Louise Phelan, received payments totalling €560,000. Ms Phelan, Ms O'Neill and Mr McCreevy, who are all non-executive directors, each received €50,000.

Ryanair reported that profits grew 43 per cent to more than €1.24 billion in the 12 months ended March 31st.

The airline carried more than 106 million passengers over the period, its financial year, generating €6.54 billion in revenues, 16 per cent more than in 2015.