The mouthy Irishman received a basic salary of €768,000 and a bonus of half a million in the year to March 2011, according to documents filed in the US with Securities Exchange Commission. His basic pay was up 29% on the previous year and his bonus was up by tasty €60,000.
O’Leary is infamous for his very public tirades against the government and aviation regulators, and for his madcap cost-cutting ideas: remember his €2-a-go toilets wheeze? Or the cheaper ‘standing seats’ for short flights?
But his penny-pinching ways have paid off: Ryanair’s revenues are holding up. Under O’Leary’s stewardship revenue was up 11% in the airline’s Q1 results, from €1.16bn to €1.28bn compared with the same period the year before. But profits were down €40m thanks to some challenging little blighters like rising fuel costs and tax increases in ailing eurozone countries such as Spain.
Despite falling profits, rising revenues and passenger numbers mean it’s probably safe to say he has earned his bonus…