ABSTRACT
Ryanair carried over 66 million passengers in 2009/10. It is the world’s largest international airline and the innovative leader in the European low-cost sector despite having its home base in Ireland with a population of only 4.2 million. In its first year of operation in 1985 it carried 15,000 passengers on one route from Waterford to London Gatwick. Its market capitalization at the end of FY 2009/10 was €7.5 billion, more than twice that of British Airways.
