Ryanair boss Michael O'Leary faces shareholder revolt over £130M bonus

See more This is Money on Google - save us as a Preferred Source Updated: 19:01 EDT, 5 September 2026 Ryanair’s outspoken boss Michael O’Leary is facing a potential revolt at the airline’s annual shareholder gathering on Thursday after a leading advisory firm called on investors to oppose plans for a mammoth share payout.In June, the budget carrier announced that O’Leary, who has run Ryanair since 1994, had agreed to stay on until 2032 in a deal that could see him handed a bonus payout worth more than £130million.Under the agreement, O’Leary, 65, will be allowed to purchase 10million shares at €26.70 each if he remains at the company for the next six years and if Ryanair’s annual profit exceeds €4billion or if its share price exceeds €42 for 28 days in a row. The stock is currently at €23.30.While Ryanair has claimed the targets will create ‘substantial additional value’ for investors, advisory group ISS called on shareholders to vote against the plans at the annual meeting. While it acknowledged ‘several positive features’ to the scheme, ISS said the ‘potentially very large’ payout was a cause for concern, adding: ‘The primary concern is the potential quantum of the award – which is very high.‘As an illustration, if the target share price were reached, a shareholding worth €420million could be purchased for €267million.’ Potential revolt: Ryanair’s outspoken boss Michael O’Leary is facing a potential revolt at the airline’s annual shareholder gathering on ThursdayIt also noted that using the share price as a target meant ‘macroeconomic factors’ unrelated to O’Leary’s performance as boss could trigger the payout, while only needing to hit the profit target for one year did not penalise the airline boss if performance fell back in subsequent years.‘In summary, the unusual approach has merits, but significant potential concerns for shareholders to balance,’ ISS said.Another adviser, PIRC, also recommended investors reject the proposals saying it had ‘material’ concerns about the pay plans.The brewing revolt will pile pressure on Ryanair as the airline sector continues to deal with the fallout of the Iran war, which has sent fuel prices surging and disrupted travel plans across Europe.Last week the carrier warned that airfares may rise across Europe if higher global oil prices continued into next summer and could even cause the collapse of some rivals.It echoes previous warnings made by the company as higher fuel costs prompt carriers to hold capacity flat or cut it ahead of the slower winter season. Ryanair itself has cut its traffic target for the current financial year to 214million passengers from 216million to reduce its exposure to unhedged oil prices during the ‘unprofitable’ winter season.Profits are also expected to fall short of last year’s record.The disruption means O’Leary faces a bigger challenge in reaching the targets for his bonus payout, with Ryanair’s share price having fallen 22 per cent so far this year after hitting a record high of nearly €30 on the Dublin stock exchange in early January.DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you