O'Leary quickly decided that the keys to profitability were low fares, quick turn-around times for aircraft, "no frills", no business class, and operating a single model of aircraft. He competed with the major airlines by providing a "no-frills", low-cost service.
Flights were scheduled into regional airports, which offered lower landing and handling charges than larger established international airports.
Similarly, net profits have increased from €48 million to €339 million over the same period.
O'Leary as Chief Executive took part in a publicity stunt where he helped out with baggage handling on Ryanair flights at Dublin Airport.
By 1995, after the consistent pursuit of its low-cost business model, Ryanair celebrated its 10th birthday by carrying 2.25 million passengers.
The Irish government at the time refused its approval to protect Aer Lingus, but Britain–under Margaret Thatcher's deregulating Conservative government–approved the service.
With two routes and two planes, the fledgling airline carried 82,000 passengers in one year.Ryanair CEO Michael O'Leary said the move was a "unique opportunity" to form an Irish airline.