Ryanair Chief Executive Announces Retirement in a Few Years

New reports now suggest that Michael O’Leary has announced that he plans on stepping down from his role as chief executive of Ryanair in two to three years time. The founder of one of Europe’s largest low cost carriers recently told an Irish radio station that, in a few years, he expects to be gone from Ryanair.

Of course, the 49 year old entrepreneur has, on other occasions, pushed back the date of his retirement heading up the airline. Just last year he simply said it has become a movable feast.

During the interview, which took place over the weekend, Michael O’Leary hinted that taking over Aer Lingus would be his swan song after twice failing to take over the carrier. He said that just earlier this month, he was planning to pay sustainable management bonuses in 2011 when a large capital investment program approached its end and possibly also end his policy of not paying any dividends.

Michael O’Leary was the deputy chief executive of Ryanair between 1991 and 1994. In January of 1994, he was promoted to chief executive of Ryanair. Under his new management, the airline developed the low cost model, which was originated by Southwest Airlines. Michael O’Leary was the one that is attributed with the birth of ancillary charges and penny tickets.

Although Michael O’Leary may be thinking about his retirement, this is still one man that has a lot of things in the works. Experts have said that, despite this announcement, it is still very possible that he will accomplish more big things before his retirement. They also noted that they would not be shocked to find out that he chose to hang out longer than the two to three years that he predicted.