The Board of Ryanair Holdings plc today (19 June) confirmed that they have agreed a contract under which Michael O’Leary (“MOL”) will remain as Group CEO until April 2032.  This concludes months of discussion with MOL and extensive engagement with the Group’s largest shareholders.  MOL’s new contract includes a modest annual salary and a capped annual bonus. MOL will qualify for a new one-off purchase option over 10m ord. shares.  Subject to MOL remaining in employment with the Group until April 2032, these options will be exercisable at a strike price of €26.70/$65.00 (equal to the prevailing market share price in Feb. 2026, before the recent share price fall due to the war in Iran), but only if Ryanair’s full year PAT grows to over €4.0bn (for full vesting) or if the price of either Ryanair’s ordinary shares or ADRs exceeds €42 or $102 respectively for 28 consecutive days, during the period to 31 March 2032.  Achievement of these very ambitious targets would create substantial additional value for all Ryanair shareholders.

Ryanair Chairman, Stan McCarthy said:

“As previously announced, this Spring the Board commenced discussions with MOL on his contract. I am pleased to report that this process, which included extensive engagement with Ryanair’s largest shareholders, has successfully concluded with Michael agreeing to extend his leadership of the Ryanair Group for the next 6-years to April 2032, for the benefit of all shareholders.”

Note: An amended remuneration policy, reflecting the new arrangements with MOL, will be tabled for an advisory vote at Ryanair’s 2026 AGM.