Ryanair

About

Ryanair Holdings plc is an Irish ultra low-cost airline group headquartered in Swords, Dublin, Ireland. Founded in 1984 by Christopher Ryan, Liam Lonergan, and Tony Ryan, the airline commenced operations on July 8, 1985, with a single 15-seat Embraer Bandeirante turboprop aircraft flying between Waterford and London Gatwick Airport. Initially named Danren Enterprises, it was shortly renamed Ryanair. The company's early strategy aimed to challenge the high airfares on routes between Ireland and the UK. Michael O'Leary joined the company in 1988 as Chief Financial Officer and was appointed CEO in 1994, later becoming Group CEO in April 2019. Under O'Leary's leadership, Ryanair adopted and aggressively developed the low-cost model pioneered by Southwest Airlines, focusing on no-frills service and ancillary revenue streams. The deregulation of the European aviation industry in 1997 was a significant catalyst for Ryanair's rapid expansion. The airline went public in 1997, using the raised capital to transform into a pan-European carrier. Ryanair Holdings plc was established in 1996 as the parent company for Ryanair and its subsidiaries, which now include Ryanair DAC, Malta Air, Buzz, Lauda Europe, and Ryanair UK. The group operates an extensive network, connecting over 230 airports in 37 countries across Europe, North Africa, and the Middle East. As of early 2023, Ryanair had a team of over 19,000 aviation professionals and operated more than 3,000 daily flights from over 90 bases. The airline primarily operates a fleet of Boeing 737 aircraft and has consistently grown its passenger numbers, becoming Europe's largest airline by this metric. Despite facing controversies regarding labor practices, additional fees, and customer service, Ryanair has continued to expand and adapt, including efforts to improve its image since 2014 and navigating the challenges of the COVID-19 pandemic. The company aims to grow its traffic to 300 million passengers per annum by FY34.