The proposal to give Ryanair boss Michael O’Leary a bonus of potentially 99 million euros has been wronged by trade unions. Among other things, the pilots union VNV speaks of a wrong signal at the Irish low coster, writes the British business newspaper Financial Times.
Ryanair recently gave O’Leary a large package of stock options. It can be redeemed when a profit of 2 billion euros or more is realized or when the share price of the company rises to 21 euros over the next five years. Now the share is worth more than 11 euros.
According to the VNV, this type of bonus ensures that O’Leary will have less attention for its staff. In doing so, the union points out matters such as bogus self-employment and poor or no sickness benefits at Ryanair. The British counterpart Balpa also thinks the bonus is too high.
Since the end of 2017, Ryanair has recognized trade unions. But negotiations about, among other things, terms of employment with the unions are anything but smooth. Ryanair suffered a series of strikes of pilots and cabin crew in their call for better working conditions last year.