Rubbish Check
Daily Mail Money · 10 September 2026
source“Bloody nose for Michael O’Leary as 39% of Ryanair shareholders vote against his £130m payday”
R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates Daily Mail's claim that "39% of Ryanair shareholders vote against" O'Leary's pay deal a 2/10 because the 39%-against, 61%-in-favour split is accurate and confirmed by Ryanair's own AGM results, with only the "bloody nose" metaphor and an omitted context figure nudging it off a clean 1.
The Verdict
Lightly altered. The core numbers check out exactly against Ryanair's AGM statement, but "bloody nose" dramatises a vote that still passed comfortably, and the piece omits that the wider remuneration report separately won 86% support, context that would temper the "revolt" framing.
What actually happened
Ryanair's AGM saw shareholders vote on Michael O'Leary's new long-term incentive package, an option to buy 10 million shares at €26.70 each through to April 2032, contingent on hitting performance targets. The resolution passed but with a notable minority against.
Key facts
- "Ryanair said of the shares cast, just 60.7 per cent voted for the pay package with 39.3 per cent voting against", matching the Mail's 39%/61% split.
- The deal gives O'Leary "an option to buy 10 million shares, which could net him at least €150 million", converted by other outlets to roughly £129m-£130m.
- Separately, "the wider remuneration report received 86% of investor votes in favour", a figure not mentioned in the Mail's piece.
- Ryanair itself did not dispute the outcome, stating it "will continue to consult with shareholders in order to understand the reasons behind the result".
- The package sits within a wider run of shareholder pushback: "around 39 percent of Ryanair shareholders voted against an amended remuneration policy for Michael O'Leary, with approximately 61 percent backing the deal at the AGM in Dublin".
What to watch for
Watch whether Ryanair adjusts vesting targets or discloses the identity of dissenting investors in its promised consultation, and whether next year's AGM shows the revolt hardening or fading, a pattern seen with Ryanair's chairman vote in 2018 and its 2019 remuneration report, both of which also drew large minority opposition before settling down.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
