Ryanair cuts jobs, offers O'Leary a $111mln bonus
Conflicting fortunes Thursday for Ryanair staff, and the Ryanair boss.
Europe's largest budget airline says it plans to cut as many as 700 positions.
Some could go at the Dublin headquarters.
At least some will be compulsory redundancies.
The move comes after the airline said it had a surplus of 500 pilots.
It's a different story though for high-profile boss Michael O'Leary.
On Thursday (September 19) Ryanair shareholders narrowly approved a bonus scheme that could see him pocket 100 million euros over five years.
That's about 111 million dollars.
To get the payout O'Leary has to either double profitability or double the share price within the period.
One stumbling block to that in the near term: the airline's Boeing MAX jets are still stuck on the ground.
The type has been out of operation for months following two fatal crashes at other airlines.
Boeing hopes to get the all-clear for U.S. flights before the end of the year.
But on Thursday O'Leary said it could be February or March before they're flying again in Europe.
