Ryanair boss O'Leary very pleased with bookings, concerned about oil price
Michael O'Leary commenced his academic journey at a Catholic educational institution called Clongowes Wood College, before progressing to Trinity College in Dublin. Unfortunately, he completed his tenure without obtaining a degree.
Between 1984 and 1986, he worked as a consulting expert at KPMG. In 1988, he joined Tony Ryan as a financial advisor and together with Christy Ryan and Liam Lonergan, they co-founded Ryanair in 1985. Initially, their flights were limited to the route between Waterford, a town in southeast Ireland, and London. However, the company swiftly expanded its services by adding numerous flights within Europe.
During the 1990s, Tony Ryan stepped down from his position as company leader and Michael O'Leary took over as the deputy CEO in 1991, eventually becoming the CEO in 1994. His main objective was to reorganize the company to boost its profits. O'Leary concentrated on a distinctive airplane design, abandoning the concept of business class and instead offering incredibly affordable fares.
In the year 1992, he traveled to Dallas to learn about how Southwest Airlines operates. O'Leary changes Ryanair from a small firm into a member of the first low-cost group and the third biggest airline in Europe (after Air France/KLM and Lufthansa). Ryanair's main office is located in Dublin.
The company had experienced rapid expansion due to its "affordability" business model and the deregulation of the aviation sector in Europe in 1997.
Michael O'Leary, the CEO of Ryanair, was honored with the title of "European businessman of the Year" by Fortune magazine in 2001. Unfortunately, Tony Ryan, the esteemed founder of Ryanair, passed away in 2007 after battling pancreatic cancer.