Ryanair boss Michael O'Leary waived €1m bonus last year over pilot rostering failure
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Ryanair boss Michael O'Leary waived €1m bonus last year over pilot rostering failure

RYANAIR CEO Michael O'Leary volunteered to waive his €1 million bonus last year following the pilot rostering failure.

Mr O’Leary’s decision to sacrifice his performance bonus came as the airline brought in record revenues of €7.15bn, profits of €1.45bn and passenger numbers of 130 million in the last year.

O’Leary is eligible for a performance bonus of up to 100% of salary depending on the achievement of certain financial and personal targets.

He received a bonus payment of €950,000 in 2016/17.

However, O’Leary doesn’t receive any pension contributions or other benefits from the company.

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This won’t trouble Mr O’Leary’s wallet too much as his 3.9% share in the €16.2 billion airline was yesterday worth €631.8 million.

The news comes as it emerged that Ryanair passengers may face more disruption after pilots based in Germany overwhelmingly backed industrial action in a ballot.

Furthermore, Irish-based pilots are due to hold a fourth 24-hour stoppage this Friday.

Ryanair has invited the union for the striking Irish-based pilots – Fórsa – to talks on Saturday.