March 2014 Report on the Internal and External

DBS Consulting Group

March 2014 Report on the Internal and External

Analysisof Ryanair |Page 2

Analysisof Ryanair

Table of contents

EXECUTIVE SUMMARY 3

*Terms of Reference

*Introduction

*About Ryanair

Analysis of External Environment..............................................................................…...6

*PESTEL Analysis

*Airline Industry

*Ryanair Competitor

*Future Strategies of Ryanair

Analysis of Internal Environment………………………………………………………13

*Resources

*Leadership

*Tangible Resources

*Human Resources

SWOT Analysis for generation of future strategic options…………………………......16

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Recommendations………………………………………………………………………19

Appendix………………………………………………………………………………..20

Bibliography & Referencing……………………………………………………………………………21

Executive Summary

Terms of Reference

The term of reference for the review were issued by Ryanair and are summarized below in three sections.

Section 1

An analysis of Ryanair’s external environment (societal and industry), highlighting in particular, the major trends evident in Ryanair’s industry environment, the opportunities and threats posed by these trends, and the implications of same for the future strategy of Ryanair.

Section 2

An analysis of Ryanair’s internal strategic capability in terms, especially, of its ability to respond to the external opportunities and threats identified.

Section 3

The group’s conclusions and recommendations for the future strategic direction of Ryanair in light of section 1 and 2 highlighting the various strategy development options open to it.

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Introduction

This report is from DBS Consulting Group for the Board of Directors of Ryanair setting out areas we have identified as opportunities, threats, strengths and weaknesses to generate options for the future strategy of the organisation.

On researching internal and external analysis on Ryanair and the SWOT within the industry, we feel

that we have captured the position of Ryanair within the airline industry and are happy to make

recommendations, at the end of this report, for increased strong economic, cultural and passenger

growth.

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About Ryanair

In 1985 Ryanair was set up by the Ryan family operating daily from Waterford to London in a 15-seater Bandeirante aircraft (History of Ryanair No Date). The following year services were launched with two BAE748 aircraft with seating numbers at 46 passengers launch fares were half price of BA and

AerLingus from Dublin to London (History of Ryanair No Date).

The Ryan family invested 20 million pounds in the company and copying the Southwest Airlines low fares model and re-launched under new management (Michael O’Leary) and as Europe’s first low fares airline by moving to a single aircraft fleet type, Scrapping free drinks and meals on board helped to grow passanager numbers to over 1 million in 1993 (History of Ryanair No Date).

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Today Ryanair is operating more than 1,600 daily flights (over 500,000 per year) from 57 bases, across 1,600 low fare routes, connecting 180 destinations in 29 countries and operating a fleet of 303 new Boeing 737-800 aircraft. Ryanair has recently announced firm orders for a further 175 new Boeing aircraft, which will be delivered between 2014 and 2018. Ryanair currently has a team of more than 9,000 highly skilled professionals and will carry over 81.5 million passengers this year (Who is Ryanair 2008).

(1985 Banderiante aircraft)

External Environment

PESTEL Analysis

Political Factors

Air Travel Tax (ATT) of 3 euro per passenger will be abolished from April 2014 (Air Travel Tax2013).

Economic Factors

Unemployment Rate 12.2% in Q1 and

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Political Factors

Air Travel Tax (ATT) of 3 euro per passenger will be abolished from April 2014 (Air Travel Tax2013).

Economic Factors

Unemployment Rate 12.2% in Q1 and

Socio-Cultural Factors

Education level is increasing year on year with more people with 3rd level educations.

Ireland’s population growth rate in April 2013 increased 2.2 per cent from the same month in 2012 reaching the population to a further 89,000 and standing at 4,593,100 in 2013 (Population and migration estimates 2013).

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Technological Factors

By European council Ireland will give 3% of EU GDP to be invested in R&D. Under this heading Ireland has been given a 2020 target of 2.5% of GDP (Review of Ireland R&D 2013).

Technology change is changing purchase product Google and passbook (APP) which could lead to closure of airports check in desks.

More than 1.6 million people now have a smartphone. That is an increase in smartphones from 39% to 50% in the last six months of 2013 (Smartphone survey 2013). Smartphones can assist with easier access to booking of flights and boarding pass access for passengers.

Environmental Factors

The EU has agreed that at least 20% of its €960 billion budget for the 2014-2020 periods should be spent on climate change-related action. This represents around a threefold increase from the 6-8% share in 2007-2013 (Spending to be climate-related 2014).

More than nine out of 10 cities in Europe are exposed to air pollutants according to the EEA’s. Air pollution from Lorries alone cost the EU approximately 45 billion euro in health costs and environmental damage (What we know about air pollution 2013).

Legal Factors

In Ireland, the rights of consumers of goods and services are protected by Irish and EU laws. Consumer law aims to ensure that consumers have enough information about prices and quality of products and services to make suitable choices on what to buy (Your right as a consumer in Ireland 2014).

Irish employment law, employment contract, treated equally, working time max 48hrs week, family friendly rights, Holidays, Bullying and Unfair dismissal (Employment law everyone should know, no date).

Under Section 8 of the Act the employer has a duty to ensure the employees’ safety, health and welfare at work as far as is reasonably practicable, in order to prevent workplace injuries and ill health (Health and safety at work 2013).

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Airline Industry

The five forces framework

Low threat of entry

Barriers to entry are high as new entry will need to overcome the high investment in bank credit and loans. Ryanair order ed175 new 737-800 aircrafts in a deal worth $15.6 billion. This investment grows the fleet size to 400 aircrafts and will service 100m passengers per year across Europe by end of the delivery stream in FY 2019 (175 NEW 737-800 AIRCRAFT 2013).

Industry competitors

Low threat of entry

Bargaing power of customers

Low threat of subsitutes

Bargaining power of suppliers

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The result of the government’s decision to scrap the 3 euro travel tax from April 2014, Ryanair announced in November 2013 it will open 9 new routes from Dublin in April 2014 bringing the total number of Dublin routes to 85 ( 9 new Dublin routes 2013).

Low threat of substitutes

There are four substitutes’ to travel by trains, buses, ferries and cars. Prices may be cheaper on these substitutes but more time consuming. In regional short trips a car will be cheaper and less time consuming than a fight. In terms of long distance, a flight has the advantage over ferries which can be more time consuming. Future threats of high speed trains in the country could have an impact on the airline.

With global warning having a high impact on climate change and the EU spending billion on climate change-related action the increase in carbon emission could push prices up on airlines and see the substitute’s coming more into pay.

Ferry, railway, and bus along with car rental players recorded a strong increase in bookings due to the volcanic cloud. Companies such as P&O registered a surge of customers in one day from 100 to nearly 6,000 foot passengers across the Channel, while Eurostar saw an increase of 50,000 more passengers from the moment the European airspace closed (Icelandic volcano 2010).

Bargaining power of customers

Ryanair customer satisfaction is on the rise as it seen five million people fly with Ryanair in December, a 4 per cent increase on the 4.8 million passengers carried in December 2012. A total of 81.4 million passengers were carried last year, up from 79.6 million in 2012 (Ryanair passenger’s numbers 2014).

The airline halved its controversial excess baggage fees last month, and reduced boarding card re-issue fees. This month, the cost of fees for luggage to be put in the hold will be halved. (Ryanair passengers numbers 2014).

Ryanair announced this year allocated seating on all Ryanair fights to make the boarding process smoother, making families and friends sit together for a small fee of 5 euro (Ryanair report (2014).

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Ryanair setup a twitter page in 2013 and removed the 3 euro change for the airline mobile app store (Ryanair to redesign 2013). The use of social media gives the customer an opportunity to ask their questions in live charts and shares important information on the airline to the viewer.

Bargaining power of suppliers

Ryanair remains 90% hedged for FY’14 at $980 per tonne (approx. $98 p.bl). Ryanair have taken advantage of recent weakness in oil prices and the US dollar to extend their FY15 hedges to 60% at approx. $94 p.bl which at current market rates should deliver a unit cost fuel reduction of approx. 4% in FY15 (Ryanair report 2014).

Airport and handling charges for the year 2013 611.6 million euro, 2012 charges of 554.0 million euro, (Annual report 2013) charges on the services which includes, cleaning, fuelling, baggage handling and security screening.

Industry competitors

The airline industry in Europe has 21 different low cost airlines in 16 different countries which include some of Ryanair biggest competitors e.g. EasyJet.

EasyJet have seen an increase in passenger numbers up 3.6 per cent in last year with customer service improvements such as allocated seating. Last year they carried 81.4 million customers a 2.3 per cent year on year (Vizard Sarah 2014). Their total revenue was up 10.5 per cent to 4.3bn in the full year to the end of September (Vizard Sarah 2014). The airline flights were ahead of Ryanair at 89.3 per cent in last year as Ryanair remained on 81 per cent. In December 2013 Ryanair carried a record 5 million ahead of competitor which saw passenger number rise 3.5 per cent to 4.3 million (Vizard Sarah 2014)..

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Ryanair Competitor

EasyJet is the largest airline of the United Kingdom, measured by number of passengers carried; operating domestic and international scheduled services on over 600 routes in 32 countries and it employed 8,300 people, and has seen rapid expansion since its establishment in 1995, having grown through a combination of acquisitions  and base openings fuelled by consumer demand for low-cost air travel (EasyJet2014).

The airline, along with subsidiary airline EasyJet Switzerland, now operates over 200 aircraft, mostly Airbus A319 and has 23 bases across Europe, the largest being Gatwick(EasyJet 2014). In 2013, EasyJet carried over 60 million passengers and is the second-largest low-cost carrier in Europe, behind Ryanair (EasyJet 2014).

.

Industry compeitors

Threat of subsitutes

Bargaining power of suppliersBarging power of customers

Threat of entry

0

20

40

Low ThreatHigh Threat

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Future Strategies of Ryanair

Eliminate

Baggage Restrictions

Ryanair reduced its baggage restrictions in December by allowing passengers to take a second small carry-on bag also cutting bag fees from 60 to 30 euro at the bag drop desk and boarding gate fees

Airlines Website

The airline is starting to clean up its website by cutting the amount of clicks from17 to 5 to make your booking. Customer will be able to save their details and

Customer service

Customer services have it issues at Ryanair some time. In 2013 which magazine showed Ryanair has been voted the worst customer service by

Long-haul Market

Ryanair will enter into the long-haul market and keep its brand a low cost airline in this new market when it can get the plane it needed (Sheehan 2014). Offering

CreateReduceRaise

Prices Routes Customer Servie

Airlines Website

Baggage Restrictions

Long-haul Market

The Strategy CanvasRyanair Easyjet

The canvas was designed from the research obtained from Ryanair and Easyjet websites

HighLow

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Internal Environment

The goal of this internal environment analysis is to focus on Ryanair's resources, both tangible and intangible, as well as its competencies and opportunities. In strategic management terms this analysis is often referred to as “Resource-based view (RBV) [which] is a model that sees resources as key to superior firm performance. If a resource exhibits VRIO attributes, the resource enables the firm to gain and sustain competitive advantage (Strategic Manager Insight 2013). According to this theory the company should look inside of its internal structure in order to find sources of its competitive advantage, rare and unique resources, which will enable the company to attract customers towards their products. Despite the common believe, Ryanair is a company which poses many superior and unique resources and capabilities over its competitors.

Baggage Restrictions

Ryanair reduced its baggage restrictions in December by allowing passengers to take a second small carry-on bag also cutting bag fees from 60 to 30 euro at the bag drop desk and boarding gate fees

Airlines Website

The airline is starting to clean up its website by cutting the amount of clicks from17 to 5 to make your booking. Customer will be able to save their details and

Customer service

Customer services have it issues at Ryanair some time. In 2013 which magazine showed Ryanair has been voted the worst customer service by

Long-haul Market

Ryanair will enter into the long-haul market and keep its brand a low cost airline in this new market when it can get the plane it needed (Sheehan 2014). Offering

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Resources

Brand Reputation

Ryanair enjoys a reputation as Europe’s largest airline offering the lowest fares on short haul flight across Europe. It can be said without a doubt that Ryanair's strategy of low prices is well known and relied on by its customers.

Ryanair are also known for their unblemished 29 year safety record and on time arrivals & departures. This is highly related to Ryanair's emphasis on training orientated towards accident prevention. In addition Ryanair has installed Operation Flight data monitoring on each of its Boeing 737-800 aircraft, which automatically provides a confidential report on the procedures followed by pilots (Ryanair Safety Record No Date). In my opinion Ryanair's excellent safety record is one of the most important and unique resources that the company poses. Customers trust the company to provide them with the service with the highest safety records on the market, which in this particular industry is a highly influential factor when it comes to making consumer choices.

Recognition

The search volume for brand queries related to Ryanair is much higher than its competitors. Kevin Gibbons presentation "Social Media for Online Reputation" at SMX London showed that in 2010 average Ryanair global monthly search was an incredible number of 20,400,000 when one compares this result to Virgin Atlantic’s mere 1,500,000 it becomes obvious that there is a huge amount of brand awareness being generated (Gibbons 2010). Arguably, Ryanair has the strongest brand recognition amongst all airlines, not just "low cost, no frills" type.

Leadership

Michael O’leary, Ryanair’s acting CEO for 17 years, strong leadership characteristics, result driven and passionate about Ryanair’s low cost, no frills strategy. O'Leary is most definitely one of the most influential leaders of our times who played a major role in Europe's travel and tourism sector (European CEO, Michael O'Leary profile 2014).

PR & Advertising - Ability to capitalise on recent often controversial, topical events rapidly and with little expense.

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Tangible Resources

Fleet

With 303 existing Boeing 737-800 model and 175 new aircraft due to arrive between by 2019 (105 Aircraft to be retired by 2019), Ryanair uses the standard model plane- Boeing 737. One aircraft model has meant reductions in maintenance and training cost across the whole fleet.

Infrastructure

With head office in Dublin Airport, 57 bases covering 180 Airports and over 1500 routes in Europe. Ryanair’s IT system is capable of supporting 410 aircraft. The company has one of the most efficient and sophisticated infrastructures across the board.

Financial - Ryanair have a significant amount of cash to hand, the highlights of 2013 financial year include:

Profits growth of 25% to €503m; Traffic grew 5% to 76m (despite grounding up to 80 aircraft in winter); 25 new aircraft delivered (y/e fleet 294); 6 new bases opened; 330 new routes launched (y/e total over 1,500 routes); Share buyback of €125m completed in March, (€68m in April) (Ryanai reports record annual

profit May 2012).

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Human Resources

Ryanair employee over 9000 highly trained professionals either as permanent or contractors. With huge emphases on performance based pay where practical.

Fuel Price Exposure and Hedging

Ryanair has historically entered into arrangements providing for substantial protection against fluctuations in fuel prices, generally through forward contracts covering periods of up to 18 months of anticipated jet fuel requirements (Fuel price exposure and heading 2009).

SWOT Analysis

Strengths

Fleet: Ryanair operate a fleet of 303 Boeing 737-800 aircrafts. They have recently placed an order for 175 new Boeing aircraft to bring the fleet total to over 450 all Boeing aircraft (Ryanair.com, 2013)

2007200

8200

9201

0201

1201

2201

30

1000

2000

3000

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5000

6000

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20072008200920102011201220130

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20072008200920102011201220130

100200300400500600

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Additional Income: Ryanair can generate substantial extra income from additional prices added to the cost of bookings. They can charge extra for pre boking seats on a flight or to have priority boarding.

Safety: Ryanair’s safety record is impeccable having not had a single incident involving serious injury in their 29 years in existence (Ryanair.com, 2014). They maintain their aircraft to a very high standard and are very vigilant of maintenance records.

Airport choices: Ryanair fly to 178 different destinations in Europe. They park their aircraft in 65 different locations Europe wide (Siliconrepublic.com, 2014).

Strong Financial Position: Ryanair are in a very strong position financially as they have improved their cash reserves by €62m from the previous year in 2012 (Ryanair.com, 2013).

High Customer Volumes: Ryanair carried 81.4m passengers in 2013 (Irishexaminer.com, 2014). This placed them as the number low cost fare airline in Europe.

Low Airport Charges: Ryanair fly to airports that charge the lowest fees. These airports sometimes may not be in the city but a short drive outside of the main hub.

Strong online presence: Ryanair has a user friendly, well laid out website for people to use when they are booking flights, hotels or car hire.

Weaknesses

Make up of fleet: Ryanair operates with Boeing aircraft exclusively. This may cause problems for them if they need to switch supplier as the cost would be significant. They would need to train cabin crew, pilots and maintenance personnel on the new aircrafts.

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Media/Brand Perception: Ryanair does not enjoy the best of relationships with the media. They do not place a big emphasis on their relationship with the press as they have simple rules and guidelines which people are expected to follow.

Relationship with the EU: Ryanair does not have the best relationship with the EU who they feel blocked their acquisition of rival airline Aer Lingus (European Union, 2013). The CEO Michael o Leary has previously branded the European Union “a bunch of idiots and lunatics” (theJournal.ie, 2012).

Customer Service: Ryanair does not fare very well when it comes to customer satisfaction and customer service in fact it has come bottom in a recent survey of the airline industry carried out by Which? Magazine (Which.co.uk, 2103).Because of this poor customer service record Ryanair will continue to have to offer the lowest fares in Europe to keep their customer base.

Opportunities

Target Business Customer: With the imminent introduction of wifi (IrishExamnier.ie, 2014) to flights Ryanair can now pursue the business traveller by offering them the ability to make and take phone calls and to work on their tablets or laptops during flights.

Long – Haul Option: Ryanair are looking into the possibility of offering long haul flights to the USA from as many as 14 different European cities and to 12 – 14 different destinations (TheTelegraph.co.uk, 2014). While the flights would be cheap Michael O’Leary the CEO of Ryanair, has said that passengers would have to pay for all other luxuries such as in flight meals and baggage allowances.

Economic Outlook: As most countries have been affected by the economic situation in some way the outlook that the economy in Europe will grow by about 1.5% (Europa.eu, 2014), will come as a welcome boost to the airline industry.

Irish Airport tax abolition: Due to the Irish governments decision to abolish the air passenger duty tax Ryanair has announced that it will allocate an extra one million passengers into Irish airports

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(DerryDaily.net, 2014). This will help boost tourism numbers in Ireland and will help to boost passenger numbers for Ryanair.

Order for extra aircraft: As Ryanair have placed an order for an extra 175 aircraft (Ryanair.com, 2013), this opens up the possibility of expansion into different destinations.

Threats

Oil Prices: With a hike in oil prices Ryanair may no longer be able to offer airfares for the prices they currently are. Higher oil prices will mean higher air fares in the future.

Conflicts: War can have a negative effect on the airline industry as flights can be stopped from entering and exiting countries during times of conflict. We have seen this recently with the outbreak of protests in Ukraine, two airports in Crimea bring invaded and blocked (Sky.com/news, 2014).

Increased fees by Airports: As was seen with the airport tax applied to Irish airports continental airports could introduce such a tax to boost the economy. This will again have a knock on affect for the consumer as this price will be passed on to them in the form of higher airfares.

Environment factors: As we have seen in the recent past the environment can have an effect on an airlines ability to fly. We can look at the volcanic ash clouds from the eruption in Iceland having an effect on Ryanair as they were forced to pay out compensation to passengers affected (Bloomberg.com, 2013).

Recommendations

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Ryanair has scope to change and expand in areas of its business.

Below are the following recommendations proposed by DBS Consulting Group to further strengthen efficiency within Ryanair.

CultureRyanair could quiet effectively utilize change management disciplines in order to alter the culture of customer facing employees , while we appreciate how hard it can be to change culture once accomplished this would be the most effective way of altering the brand reputation for the better and increase bookings.

Expansion into new markets With the emergence of the African continent as a tourist and business hub there is scope for expansion here. With the delivery of new aircrafts ordered this can be made possible.

Social media Ryanair online customer services is dealing with large amount of customers queries through Twitter and Facebook we suggest increasing labor force with experience customer care employees to deal with the large amount of traffic.

Attract new customersRyanair should provide a bit extra in some flights services to grow new customers with families and business travellers by offering an extra package from the normal Ryanair flight. Ryanair extra offers much more for the new customers, in less baggage restrictions, providing food and drinks and pick up from arrivals. This option could be open to each customer with added fee.

Appendix

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Timeline – Gant Chart

Bibliography and Referencing

TIME Month 1 Month 2 Month 3

Data Gathering Ongoing team meetings, collection of data from online and report sources

Analysis Analysis of external and internal environment, SWOT Analysis, recommendations

DeliveryFinal Reviews, Delivery of report

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Air Travel Tax (2013), Available at:http://en.wikipedia.org/wiki/Air_Travel_Tax(Assessed: 11 Feb 2014)

Share register (no date), Available at:http://academic.mintel.com/sinatra/oxygen_academic/display/id=656210?highlight(Assessed: 11 Feb 2014)

Guidance Note on Solid Fuel Carbon Tax (no date),Available at:http://webcache.googleusercontent.com/search?q=cache:C-F7dM6YsG8J:www.revenue.ie/en/tax/excise/leaflets/solid-fuel-carbon-tax-guidance.pdf+&cd=2&hl=en&ct=clnk&gl=ie(Assessed: 11 Feb 2014)

Economic forecast for Ireland (2014), Available at:http://www.tradingeconomics.com/ireland/forecast(Assessed: 11 Feb 2014)

Exchange rate (2014), Available at:http://www.oanda.com/currency/historical-rates/(Assessed: 11 Feb 2014)

Earning and Labour cost (No date), Available at:http://www.cso.ie/quicktables/GetQuickTables.aspx?FileName=EHQ03.asp&TableName=Earnings+and+Labour+Costs&StatisticalProduct=DB_EH(Assessed: 11 Feb 2014)

Market Commentary ( 2014), Available at:http://www.platts.com/jetfuel(Assessed: 11 Feb 2014)

Population and migration estimates (2013), Available at: http://www.cso.ie/en/releasesandpublications/er/pme/populationandmigrationestimatesapril2013/#.UvosIY2SLTo(Assessed: 11 Feb 2014)

Review of Ireland R&D (2013), Available at:

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http://budget.gov.ie/Budgets/2014/Documents/Department%20of%20Finance%20RR&D%20Tax%20Credit%202013.pdf(Assessed: 11 Feb 2014)

Smartphone survey ( 2013), Available at:http://www.rte.ie/news/2013/0422/384168-1-6m-irish-people-now-use-smartphones-survey/ (Assessed: 11 Feb 2014)

Spending to be climate-related (2014), Available at:http://ec.europa.eu/clima/policies/finance/budget/index_en.htm(Assessed: 11 Feb 2014)

What we know about air pollution (2013), Available at:http://www.eea.europa.eu/highlights/a-summary-of-the-year(Assessed: 11 Feb 2014)

Your right as a consumer in Ireland (2014), Available at:http://www.citizensinformation.ie/en/consumer_affairs/consumer_protection/consumer_rights/consumers_and_the_law_in_ireland.html(Assessed: 11 Feb 2014)

Employment law everyone should know (No date), Available at:http://www.dillon.ie/services/employment_law/ten_employment_laws(Assessed: 11 Feb 2014)

Health and safety at work (2013), Available at:http://www.citizensinformation.ie/en/employment/employment_rights_and_conditions/health_and_safety/health_safety_work.html(Assessed: 11 Feb 2014)

175 NEW 737-800 AIRCRAFT (June 2013), Available at:http://www.ryanair.com/index.php/ie/news/ryanair-and-boeing-finalise-firm-order-for-175-new-737-800-aircraft(Assessed: 18 Feb 2014)

9 new Dublin routes (Nov 2013), Available at:http://www.ryanair.com/ie/news/ryanair-opens-9-new-dublin-routes-from-april-2014 (Assessed: 18 Feb 2014)

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Pamela Newenham, Ryanair passengers numbers (Jan 2014), Available at:http://www.irishtimes.com/business/sectors/transport-and-tourism/improved-customer-care-boosts-ryanair-passenger-numbers-1.1642605 (Assessed: 18 Feb 2014)

Ryanair to redesign (Sep 2013), Available at:http://www.businesspost.ie/#!story/Home/Media+And+Marketing/Ryanair+to+redesign+website%2C+use+more+social+media/id/19410615-5218-523c-017f-888266558123 (Assessed: 18 Feb 2014)

Ryanair report (2014), Available at:http://www.ryanair.com/doc/investor/2014/q2_2014_result_doc.pdf(Assessed: 18 Feb 2014)

Ryanair report (2014), Available at:http://www.ryanair.com/doc/investor/2014/q2_2014_result_doc.pdf (Assessed: 19 Feb 2014)

Annual report (2013), Available at:http://www.ryanair.com/doc/investor/2013/final_annual_report_2013_130731.pdf(Assessed: 19 Feb 2014)

Vizard Sarah EasyJet narrows gap on ryanair in passenger battle, Marketing Week (Jan 2014), Available at:http://eds.a.ebscohost.com/ehost/detail?vid=24&sid=630d1fe3-b63d-4a68-be119a21a92483ba%40sessionmgr4003&hid=4103&bdata=JkF1dGhUeXBlPWlwLGNvb2tpZSx1cmwsYXRoZW5zJnNpdGU9ZWhvc3QtbGl2ZQ%3d%3d#db=bth&AN=93581531 (Assessed: 19 Feb 2014)

Icelandic volcano causes travel mayhem (April 2010), Available at:https://www.portal.euromonitor.com/Portal/Pages/Statistics/Statistics.aspx(Assessed at: 25 Feb 2014)

Ryanair History (Feb 2014), Available at: http://en.wikipedia.org/wiki/Ryanair(Assessed at: 26 Feb 2014)

History of Ryanair (No Date), Available at:http://www.ryanair.com/en/about(Assessed at: 26 Feb 2014)

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Ryanair hits back at survey (Sep 2013), Available at:http://www.thejournal.ie/ryanair-which-survey-1092705-Sep2013/(Assessed at: 26 Feb 2014)

Peter Woodman, Ryanair to reduce baggage restrictions (Oct 2013), Available at:http://www.irishexaminer.com/ireland/ryanair-to-reduce-baggage-charges-and-restrictions-247511.html(Assessed at: 26 Feb 2014)

Ryanair unveils improved website (Oct 2013), Available at:http://www.ryanair.com/ie/news/ryanair-unveils-improved-website-and-digital-service-to-customers(Assessed at: 26 Feb 2014)

Aideen Sheehan, Flights to US (Feb 2014), Available at:http://www.independent.ie/irish-news/flights-to-us-will-cost-just-10-on-ryanair-oleary-30041838.html(Assessed at: 26 Feb 2014)

Blue ocean strategy (2013), Available at:http://www.blueoceanstrategy.com/concepts/#/tools(Assessed at: 26 Feb 2014)

EasyJet (Feb 2013), Available at:http://en.wikipedia.org/wiki/EasyJet(Assessed at: 26 Feb 2014)

Who is Ryanair (No Date), Available at:http://www.dalmac.ie/who-is-ryanair.php(Assessed at: 27 Feb 2014)

Strategic Manager Insight (Oct 2012) , Available at:http://www.strategicmanagementinsight.com/topics/resource-based-view.html(Assessed at: 26 Feb 2014)

Ryanair.com, Safety Record Available at:,

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http://www.ryanair.com/doc/investor/SafetyRecord.pdf(Assessed at: 26 Feb 2014)

Strategic Manager Insight (Oct 2013), Available at:,http://www.strategicmanagementinsight.com/topics/resource-based-view.html(Assessed at: 26 Feb 2014)

Ryanair Safety Record (No Date), Available at:,http://www.ryanair.com/doc/investor/SafetyRecord.pdf(Assessed at: 26 Feb 2014)

Kevin Gibbons, Social Media for Online Reputation,( May 2010 ), Available at:,http://white.net/noise/social-media-for-online-reputation-kevin-gibbons-smx-london/(Assessed at: 26 Feb 2014)

European CEO, Michael O'Leary profile, (Jan 2014), Available at:, http://www.europeanceo.com/profiles/2014/01/michael-oleary/

(Assessed at: 26 Feb 2014)

Ryanai reports record annual profit, (May 2012), Available at:, http://www.finfacts.ie/irishfinancenews/article_1024369.shtml(Assessed at: 26 Feb 2014)

FUEL PRICE EXPOSURE AND HEDGING, (July 2009), Available at:, http://www.wikinvest.com/stock/Ryanair_Holdings_%28RYAAY%29/Fuel_Price_Exposure_Hedging(Assessed at: 26 Feb 2014)

Ryanair. 2013. RYANAIR & BOEING FINALISE FIRM ORDER FOR 175 NEW 737-800 AIRCRAFT. [ONLINE] Available at:http://www.ryanair.com/ie/news/ryanair-and-boeing-finalise-firm-order-for-175-new-737-800-aircraft. (Accessed at: 26 February 14)

Ryanair. 2013. Full Year Results 2013. [ONLINE] Available at: http://www.ryanair.com/doc/investor/present/quarter4_2013.pdf(Accessed at: 26 February 14)

Ryanair. 2014. Safety Record. [ONLINE] Available at: http://www.ryanair.com/doc/investor/SafetyRecord.pdf

March 2014 Report on the Internal and External

Analysisof Ryanair |Page 28

(Accessed at: 26 February 14)

Gordon Smith. 2014. The five minute CIO: Eric Neville. [ONLINE] Available at: http://www.siliconrepublic.com/enterprise/item/35791-the-five-minute-cio-eric/.(Accessed at: 26 February 14)

Irish Examiner. 2014. Ryanair sees passenger totals rise 2%. [ONLINE] Available at: http://www.irishexaminer.com/breakingnews/business/ryanair-sees-passenger-total-rise-2-618651.html(Accessed at: 26 February 14)

European Union. 2013. Mergers: Commission prohibits Ryanair's proposed takeover of Aer Lingus. [ONLINE] Available at: http://europa.eu/rapid/press-release_MEMO-13-144_en.htm.(Accessed at: 26 February 14)

Sinead O Connell. 2012. Idiots and lunatics! Michael O’Leary tells us what he really thinks. [ONLINE] Available at: http://www.thejournal.ie/idiots-and-lunatics-michael-oleary-tells-us-what-he-really-thinks-459222-May2012/(Accessed at: 26 February 14)

Which? Magazine. 2013. Which? reveals the best and worst airlines. [ONLINE] Available at: http://www.which.co.uk/news/2013/12/which-reveals-the-best-and-worst-airlines-346945/.(Accessed at: 26 February 14)

Noel Baker. 2014. Ryanair says keep your phone on — and prepare for wi-fi. [ONLINE] Available at:http://www.irishexaminer.com/ireland/ryanair-says-keep-your-phone-on-and-prepare-for-wi-fi-257963.html.(Accessed at: 26 February 14)

Andrew Trotman. 2014. Ryanair to fly passengers to US for under £10. [ONLINE] Available at:http://www.telegraph.co.uk/finance/newsbysector/transport/10663617/Ryanair-to-fly-passengers-to-US-for-under-10.html. (Accessed at: 26 February 14).

European Commission. 2014. Winter 2014 forecast: Recovery gaining ground. [ONLINE] Available at:http://europa.eu/rapid/press-release_IP-14-188_en.htm. (Accessed at: 26 February 14)

Sky News. 2014. Russia Denies Blocking Airport In Crimea. [ONLINE] Available at: http://news.sky.com/story/1218722/russia-denies-blocking-airport-in-crimea.

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(Accessed at: 28 February 14)

Stephanie Bodoni. 2013. Ryanair Ordered to Reimburse Travelers in Volcano Delay. [ONLINE] Available at:http://www.bloomberg.com/news/2013-01-31/ryanair-must-pay-traveler-costs-in-volcano-delay-court-says-1-.html. (Accessed at: 28 February 14)

Derry Daily. 2014. RYANAIR DEPUTY TELLS DERRY BUSINESS OWNERS: AIR PASSENGER DUTY NEEDS TO BE SCRAPPED. [ONLINE] Available at: http://www.derrydaily.net/2014/02/20/ryanair-deputy-tells-derry-business-owners-air-passenger-duty-needs-to-be-scrapped/(Accessed at: 28 February 14)

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Notes

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