Willie Walsh, chief executive of Aer Lingus parent International Airlines Group (IAG), took home a total pay packet of €8.8 million last year.
According to IAG’s annual report, Mr Walsh’s total remuneration rose from €7.89 million in 2014, to €8.87 million last year, thanks to a pay rise and shares vesting under a long-term incentive plan.
Mr Walsh received a base salary of €1.1 million last year, a bonus of €1.8 million, pension benefits of €293,000, plus long-term incentives worth €5.5 million.
In 2014, Mr Walsh received a base salary of €1 million, a bonus of €2 million, pension benefits of €262,000, and long-term incentives worth €5 million.
The 11 non-executive directors of IAG were paid a total of €2.2 million last year.
The group said it achieved a record operating profit of €2.3 billion in 2015, far outstripping its initial €1.5 billion target.
Mr Walsh said 2015 was a year of extreme and unprecedented volatility in both the oil and currency markets.
“The oil price declined from a peak of around $100 a barrel in 2014 to recent lows of around $30. However, sharp rises in the value of the US dollar – the currency we use to buy our fuel – meant that we realised less benefit than many expected and with volatility likely to remain, we continue to hedge our fuel purchases to manage that uncertainty,” he said.