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FILE - In this Wednesday, March 26, 2014 file photo, Chief Executive of Ryanair Michael O'Leary speaks during an interview in London. O’Leary will remain for another five years, after the company overhauled its corporate structure and gave its longtime leader a new contract. Europe’s biggest airline by passengers said Monday, Feb. 4, 2019 it will move to a group structure called Ryanair Holdings Plc. (AP Photo/Kirsty Wigglesworth, file)

Ryanair's longtime CEO gets a new 5-year term

 By The Associated Press  February 4, 2019 at 6:10am
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LONDON (AP) — Ryanair CEO Michael O’Leary will remain for another five years, after the company overhauled its corporate structure and gave its longtime leader a new contract.

Europe’s biggest airline by passengers said Monday it will move to a group structure called Ryanair Holdings PLC. O’Leary will be CEO, agreeing to a new contract through July 2024.

Ryanair Holdings will oversee the main Ryanair carrier, subsidiaries based in Poland and the U.K. as well as the recently acquired Austrian unit Laudamotion.

There had been questions over O’Leary’s future as his contract was due to end this year.

The announcement came as the company reported a net loss of 20 million euros ($23 million) for its fiscal third quarter, compared with a 106 million profit the year before, due to lower fares.

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The Associated Press
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
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