The year 2025 is proving lucrative for Ryanair shareholders and for Michael O’Leary.
Shares are up 25 per cent, lifting O’Leary’s stake to more than €1 billion, and a bonus of some €125 million is nearing.
The prize depends on the stock, currently near €24, holding above €21 for 28 consecutive days. With shares above €21 since May 2nd, the windfall is in sight.
Profits fell 16 per cent to €1.61 billion, but results were sturdier than expected.
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Average fares slipped 7 per cent, yet passenger numbers jumped 9 per cent to a record 200.2 million, making Ryanair the first European carrier to break that milestone.
As always, O’Leary found time to complain – this time about “lazy” Ukrainian airport directors who need to get “off their fat arses”; sluggish Irish politicians “buggering off on summer holidays”; and the European Commission’s inaction on air-traffic control strikes (“no bloody action whatsoever”).
Even so, he was in good form, touting Ryanair’s “stunning” cost advantage, strong cash position, fare increases, and “ability to grow over the next decade.”
Ryanair also launched a €750 million share buyback, a strategy previously questioned by Barclays analysts, warning buy-backs prop up the share price and thus boost O’Leary’s bonus.
However, having built Ryanair into the world’s second-most valuable airline (behind only Delta), dissent is thin on the ground.
Critics may grumble, but for now the money – and the applause – keep flying Ryanair’s way.
