Shares windfall for Ryanair workers

Ryanair workers will receive around €25,000 each when shares awarded to them by the budget airline mature, it was confirmed today.

Up to a thousand employees will take a slice of the €30m windfall next month, having received free shares at the time of the airline’s flotation in 1997.

The amount received by workers will depend on factors such as length of service and salary.

Staff stand to make an average profit of €25,000 to €30,000.

Some 10 million share options have been awarded to Ryanair workers since the scheme began in 1998 and can be exercised from June 30, when they will have been held for a five-year period.

A spokesman confirmed there was a gain of around three euro per share.

He said the biggest winners would probably be pilots, who would see a much larger share than cabin crew.

Ryanair’s stock option scheme is open to all permanent staff who have served at least one year with the company.

The carrier is preparing a booklet to inform staff on the issue and has arranged stockbrokers to handle transactions at a special rate.

A series of seminars on investment will be offered to workers.

Chief executive Michael O’Leary will launch a new option plan this summer when the first shares reach maturity.