Bangladesh, June 23 -- The airline confirmed the agreement on June 19, concluding months of discussions between the board and the company's largest shareholders.

O'Leary has been leading Ryanair since 1994 and stepped into the role of group CEO in April 2019. His previous contract, which was renewed in December 2022, was originally set to expire in July 2028.

The new contract includes a modest annual salary and a capped bonus, paired with a one-off option to purchase 10 million ordinary shares. Ryanair set the strike price at EUR 26.70, equivalent to USD 65.00, matching the share price from February before a recent drop caused by the war in Iran.

To fully vest the options, O'Leary must remain until April 2032 and achieve strict financ...