Up to 1,000 Ryanair staff will share in a stock market windfall worth as much as €30 million next month when share options granted over the last five years mature.
Under the terms of the airline's share option plan, some 10 million options have been awarded to staff since the scheme began in 1998 and these can be exercised from June 30th. Depending on the Ryanair share price at that time, staff stand to make an average profit of between €25,000 and €30,000.
"There is considerable upside, probably a gain of around €3 per share," Ryanair's deputy chief executive, Mr Howard Millar, told The Irish Times.
The sums received by individual employees will vary widely, depending on length of service, the job involved and the salary paid. Pilots, who can earn six-figure salaries, are in line for a much larger payout than cabin crew, for instance.
The stock option scheme is open to all permanent staff provided they have served at least one year with the airline. The options were granted to individual employees each year, based on 20 per cent of salary.
Mr Millar said Ryanair had put in place an arrangement with Davy Stockbrokers to handle share transactions on behalf of staff at a special rate.
It is also preparing a booklet to inform staff on the issue while Davy will conduct a series of workshops and seminars with staff on investing.
However, many Ryanair staff will not be new to the world of investment, having received free shares at the time of the airline's flotation in 1997.
Over the last six years, the airline has rewarded its owners and senior management well. The Ryan family, which includes the airline's founder Dr Tony Ryan, has sold more than €340 million worth of Ryanair shares since the flotation.
The budget airline's chief executive, Mr Michael O'Leary, has also been a regular seller in recent years, realising more than €175 million from selling part of his stake in the airline.
Now it is the turn of staff to share in the success of the low-cost airline, which expects to carry almost 24 million passengers this year on 101 routes across 15 countries.
The airline remains committed to encouraging its employees to become shareholders. A new option plan was approved at the company's annual meeting last year and will be launched this summer when the first grant of options will be made.