Ryanair boss to surrender large bonus after last year’s cancellation chaos

posted on 2nd August 2018 by yumna
Ryanair boss to surrender large bonus after last year's cancellation chaos

Ryanair boss, Micheal O’Leary is to give up the large bonus he is entitled to after the end of the 2017-2018 financial year.

The decision not to take the sum follows the flight cancellation debacle that hit Ryanair last year.

The budget airline marked record profits for the 2017-2018 financial year, yet an annual report shows that the top executive did not take the large bonus he was entitled to, believed to be as much as €1m.

The last time that O’Leary did take the bonus, it was around €950,000.

As reported by The Guardian in the UK, the boss will not take the bonus due to a pilot rescheduling mix-up last year that led to an unprecedented 20,000 number of flight cancellations.

The Irish carrier has hit the front pages recently due to ongoing industrial action taken by its crew unhappy with conditions and pay.

O’Leary threatened that jobs would be pulled out of the UK and moved to Eastern European countries, such as Poland, if the strikes continue to negatively affect the airline, stating that Ryanair is the ‘ultimate opportunistic’ airline.