Ryanair has announced the renewal of the contract with the company’s CEO, according to ECO News. The agreement marks the end of several months of negotiations with the leader of the Irish airline and the company’s main shareholders, and CEO Michael O’Leary will remain in the position until April 2032

In the official statement, the chairman of Ryanair, Stan McCarthy, said: “As we previously announced, the board of directors began discussions in the spring regarding Michael O’Leary’s contract. I am pleased to report that this process, which included extensive dialogue with Ryanair’s largest shareholders, has been successfully concluded, with Michael agreeing to extend his leadership of the Ryanair Group for a further six years, until April 2032, to the benefit of all shareholders.”

Michael O'Leary's new contract entails a "moderate annual salary and a limited annual bonus," according to Ryanair. In addition, O'Leary will also have a new one-time option to purchase ten million ordinary shares. These options can be exercised at a price of 26.70 euros or 65 dollars per share, if O'Leary remains with the group until April 2032.

The options are priced equivalent to the market value recorded in February 2026, before the start of the Iran war, and they can only be exercised if Ryanair records an annual net profit exceeding four billion euros, guaranteeing the full allocation of the incentive, ECO News reports.

Alternatively, the target will be met if the company's ordinary shares reach €42, or US Certificates of Deposit reach 102 dollars, for 28 consecutive days until 31 March 2032. Ryanair considers these targets "very ambitious” and believes that achieving them will create “significant additional value for shareholders,” according to ECO News.