Ryanair has been named Europe’s best-performing airline of the decade.
No, it’s not April 1.
The accolade was bestowed upon the Irish no-frills carrier by the Decade of Airline Excellence Awards, with one judge declaring that it had ‘revolutionised air travel within Europe’.
Ryanair has been named Europe’s best-performing airline of the decade. Pictured is the no-frills airline’s chief executive, Michael O’Leary
Ryanair, the judges said, was pioneering in terms of taking advantage of Europe’s relatively liberal aviation market – far beyond its Dublin home.
Challenges emerged, they said, and were overcome during the period, such as a move to recognise unions, which heralded high-profile negotiations but failed to significantly dent its cost advantage.
The judges also pointed out that the latter part of the decade also saw Ryanair adopt an ‘IAG-like’ business structure, with outspoken Michael O’Leary at the helm and overseeing the chief executives of the group’s mainline operation, Lauda, Polish leisure carrier Buzz, and Malta Air.
The strength it took from its strategy and performance in aviation’s boom decade, said the judges, meant it entered the current crisis with a hefty pile of cash to see it through.