ryanair's edge

Filed in archive Global Economy on August 3, 2004

Source: www.rp-online.de

Mario has good insight on the Ryanair success story.

"At the Age of 33, Michael O'Leary, former KPMG tax consultant, became the deputy chief executive of near-Bankrupt Ryanair. Tony Ryan thought that this was the right man to turn around the enterprise. What followed was an impressive and highly profitable exercise of focus and cost savings at its best. In his first year, Michael O'Leary made �200.000. Profits went up. The first indicators of high profitability were seen in 1995 - Ryanair made �6 million and its chief executive pocketed �1.5 million. One year later, O'Leary made a deal that secured him a 20% stake in Ryanair. Going public was just a matter of time. The flotation on the markets of New York and Dublin occurred in 1997. Finally their shares started trading on the London Stock Exchange in 1998."