SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 6-K


                        Report of Foreign Private Issuer


                       Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934


                     For the month of December, 2005

                              RYANAIR HOLDINGS PLC
                (Translation of registrant's name into English)

                     c/o Ryanair Ltd Corporate Head Office
                                 Dublin Airport
                             County Dublin Ireland
                    (Address of principal executive offices)

 
Indicate by check mark whether the registrant files or will file annual 
reports under cover Form 20-F or Form 40-F.

                         Form 20-F..X.. Form 40-F.....


Indicate by check mark whether the registrant by furnishing the information 
contained in this Form is also thereby furnishing the information to the 
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange 
Act of 1934.

                               Yes ..... No ..X..


If "Yes" is marked, indicate below the file number assigned to the registrant 
in connection with Rule 12g3-2(b): 82- ________ 







                     RYANAIR'S DUBLIN PILOTS EACH RECEIVE
                      OVER EUR60,000 SHARE OPTION WINDFALL

Ryanair,  Europe's largest low fares airline,  today (Friday, 2nd December 2005)
confirmed  that  many of its  Dublin  pilots  have  received  windfalls  of over
EUR60,000 each by selling their share  options,  which became  exercisable  from
yesterday  (1st  December).  Based on today's share price of EUR7.50 the options
have a value  of  EUR190,000,  yielding  windfalls  of over  EUR60,000  for each
participating pilot.

The share  options  form part of the  collective  5 year pay,  benefit and share
option  scheme that the Dublin  pilots  negotiated  directly with the airline in
November 2000 and are the ninth tranche of options which Ryanair's Dublin pilots
have enjoyed over each of the past nine years.  The total value of these options
to each  qualifying  Dublin  pilot  since  Ryanair  floated  in  1997 is  almost
EUR500,000 and if disposed of at the exercise date,  they have generated a total
profit of almost EUR300,000 for each qualifying Dublin pilot.

Welcoming this latest tranche of profitable share options for Ryanair's pilots,
Ryanair's Director of Personnel, Eddie Wilson said:

    "Ryanair will continue to negotiate directly with all our people, and we
    hope that as a result of this internal collective bargaining process our
    people will continue to share in Ryanair's success as we grow to become
    Europe's largest and most valuable airline."

    "This latest EUR60,000 share option profit is one of many benefits which
    Ryanair's Dublin pilots have negotiated directly with Ryanair. Ryanair's
    pay, promotion, job security and share options are better than any other 737
    pilot package in Europe. This is why Ryanair has over the past 12 months
    recruited more than 150 pilots from other airlines including Easyjet,
    Lufthansa, SAS, Alitalia and British Midlands".

Ends.                         Friday, 2nd December 2005

For reference:
Peter Sherrard - Ryanair      Pauline McAlester - Murray Consultants
Tel: 00-353-1-8121228         Tel: 00-353-1-4980300


                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the 
Registrant has duly caused this report to be signed on its behalf by the 
undersigned, hereunto duly authorized.

                                    RYANAIR HOLDINGS PLC

 
Date:  02 December 2005

                                    By:___/s/ Howard Millar____

                                    H Millar
                                    Company Secretary & Finance Director