Ryanair boss cancels bonus after flights grounded

July 31, 2018
Ryanair boss Michael O'Leary waived his bonus because of a pilot scheduling mix-up last September that resulted in some 20,000 flight cancellations

Ryanair boss Michael O'Leary waived his hefty yearly bonus, the low-fares airline's annual report showed, following the flight cancellations crisis that gripped the Irish carrier.

In the report out Monday, Europe's largest low-cost carrier said that despite record profits in the financial year 2017-2018, chief executive O'Leary decided not to take the bonus he was entitled to.

The bonus can be worth as much as a year's salary—about a million euros for O'Leary. In the previous financial year, his bonus was 950,000 euros.

O'Leary was paid 1.06 million euros and was given 1.25 million euros worth of shares in the airline.

The company said O'Leary waived his due to the pilot scheduling mix-up in September 2017 that resulted in a serious labour dispute and some 20,000 cancellations.

The crisis led to a U-turn at Ryanair which started negotiations with trade unions in several countries.

The carrier has since struck agreements with several unions, though talks remain tricky in some territories.

Last week, the company faced an unprecedented strike by cabin crew in four European countries.

The group has continued to denounce such actions and has warned that they could force it to suppress flights and jobs.

Ryanair also announced last week that it was reducing flights from Dublin later this year, warning that up to 300 jobs—100 pilots and 200 cabin crew—were on the line.

Explore further: Ryanair profits up 10% despite cancellations crisis

Related Stories

Ryanair profits up 10% despite cancellations crisis

May 21, 2018

Irish budget carrier Ryanair said Monday its net profit had risen 10 percent in 2017-2018 despite the cancellation of thousands of flights, but forecast a fall this year due to higher oil prices.

Court orders Ryanair to comply with Dutch law

July 10, 2018

A Dutch appeals court has ruled that employees of the Irish budget carrier Ryanair who are based in the Netherlands are covered by Dutch law, in a decision made public Tuesday.

Recommended for you

Permanent, wireless self-charging system using NIR band

October 8, 2018

As wearable devices are emerging, there are numerous studies on wireless charging systems. Here, a KAIST research team has developed a permanent, wireless self-charging platform for low-power wearable electronics by converting ...

Facebook launches AI video-calling device 'Portal'

October 8, 2018

Facebook on Monday launched a range of AI-powered video-calling devices, a strategic revolution for the social network giant which is aiming for a slice of the smart speaker market that is currently dominated by Amazon and ...

Artificial enzymes convert solar energy into hydrogen gas

October 4, 2018

In a new scientific article, researchers at Uppsala University describe how, using a completely new method, they have synthesised an artificial enzyme that functions in the metabolism of living cells. These enzymes can utilize ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.