Who is Michael O’Leary, what’s he said about Ryanair’s cancelled flights and what’s his net worth?
MICHAEL O'Leary is the chief executive of budget airline Ryanair.
One of the richest men in Ireland, O'Leary built his reputation on an abrasive management style and his occasionally hostile public statements — but what is the latest controversy surrounding his airline and what is his net worth?
Who is Michael O'Leary?
Michael Kevin O'Leary, 56, was born in Kanturk, County Cork, on 20 March 1961.
He went on to study Economic and Social Studies at Trinity College Dublin, graduating in 1983.
After working at Stokes Kennedy Crowley, later known as KPMG, O'Leary became a personal tax adviser to Tony Ryan, head of Guiness Peat Aviation, a plane leasing firm.
Tony Ryan went on to set up Ryanair in the late eighties, but it was massively unprofitable and O'Leary was dispatched on a fact-finding mission to see what could be learned from budget Southwest Airlines in the US.
O'Leary was appointed deputy chief executive in 1991 and became chief executive in 1994.
Since then he has spearheaded Ryanair's low-cost business model.
What has he said about Ryanair's cancelled flights fiasco?
On Friday 15 September 2017 Ryanair revealed that it was cancelling almost 50 UK flights a day over the following six weeks.
The firm had severely mismanaged its pilots' rota and too many were due holiday before December.
Thousands of passengers were affected and the company admitted it could face a £20million compensation bill.
Bowing to public pressure, O'Leary came forward to apologise for the cock-up.
He admitted the company had "messed up" and said that anyone who is "entitled to compensation with receive compensation".
What's the latest?
O'Leary is to step back from the day-to-day running of Ryanair, as fears of a no-deal Brexit haunt the low-cost airline.
However, he has signed a contract to spend another five years at the helm as group chief executive of Ryanair, reported .
Ryanair said the decision would “deliver cost and operating efficiencies” as well as allowing the airline to look at small-scale M&A.
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What is Michael O'Leary's net worth?
Michael O'Leary is one of Ireland's richest people.
According to the Irish Rich List, O'Leary is Ireland's 16th richest person in Ireland with a net worth of £1.6bn
He is Ryanair's largest individual shareholder, with a 3.8 per cent stake worth £519million, according to the 2016 list.