Report on low fares airline Ryanair
Ryanair is Europe Largest Low Fares Airline, operating 76 low fare routes to 13 countries throughout Europe and is growing at an alarming rate. No other company we know of is growing such a market share and gaining such a reputation. I have put together a report based on the company regarding aspects such as growth to date and future plans.
* Establishment and growth of Ryanair
Ryanair began in 1985 in competition with Aer Lingus flying to the United Kingdom and Ireland. The company had a commitment to low fare air travel and making air travel affordable for everybody. The airline didn't really begin to come of age until the years 1990 and 1991 when new management took control. Before that the airline had made a loss of 25M in the previous four years. In 1991 the airline made its first profit and was carrying over 700,000 on just five routes.
Expansion and success rapidly continued and in 1997 full European Union transport deregulation came into force that allowed Ryanair to open up routes otherwise inaccessible.
Each year since its overhaul in 1990, Ryanair has increased workforce,
flights, and routes and upgraded its aircraft. Passenger numbers and profits
have increased favourably in return. Ryanair has won many awards and
accolades along the way and is spearheaded by a young entrepreneur by the
name of Michael O'Leary. It now claims to sell over 90% of its tickets online
and is Europe's most successful airline. During the first six months of this year it
made profits of over 128M which was more than the whole year of 2001 in
which Ryanair was one of the very few airlines to made a profit after the
September 11th attacks. Today Ryanair is...