Ryanair boss Michael O’Leary has secured a €100m bonus after the airline hit share price targets, writes Jessica Clark.

The 64-year-old, who has run the low-cost carrier since 1994, bagged the huge windfall under a controversial scheme narrowly approved by investors in 2019.

It was agreed the bonus would be paid if the firm’s share price remained at or above €21 for 28 consecutive calendar days – a goal met yesterday.

His jackpot is likely to infuriate passengers who complain about poor customer service and cost-cutting measures – with the airline repeatedly branded the worst short-haul carrier by consumer rights publication Which?.

Mr O’Leary’s critics also allege the bonus rewarded the chief executive, who must stay in his role until 2028 to receive the payout, for hitting targets that are beyond his control.

Analysts at Barclays have warned the scheme raises concerns about Ryanair’s governance as a boardroom decision to buy back shares could in theory drive the share price to the required value.

Luke Hildyard, from the campaign group High Pay Centre, branded the payment “morally questionable”.