Ryanair and Michael O'Leary made a huge amount of money last year, despite waiving his €1m bonus 11 months ago

Ryanair and Michael O'Leary made a huge amount of money last year, despite waiving his €1m bonus

Serious cash...

Ryanair CEO Michael O’Leary did not take his €1 million in bonus pay last year, after he chose not to take any performance bonuses following the pilot rostering failure at the airline.

The low-cost airline were forced to cancel thousands of flights between September last year and March this year over a pilots rostering row which cost the company €25 million.

In Ryanair's annual report, it's revealed that O'Leary turned down his €950,000 annual bonus over the disruptions.

O’Leary’s decision to refuse his bonus came in following a year of record revenues of €7.15 billon, profits of €1.45 billon and passenger numbers of 130 million at the airline.

The CEO's pay for the 12-month financial year was €1.06 million but he also received €1.25 million of shares in the company.

But you don't have to worry about O'Leary going hungry after giving up his performance bonus, as his 3.9% share in the €16.2 billion airline is worth around €631.8 million.

O'Leary took full responsibility for the problems involving the pilots rostering at a board meeting last year, and Ryanair said that it had re-accommodated or compensated the passengers affected.