The story of Ryanair and the Irish entrepreneurs who reshaped global air travel

The following article was published by Future Travel Experience

In a fascinating Fireside Chat at the recent APEX FTE Dublin 2025 event, Tom Lyons, author of Aer Dogs, delved into the gripping true story of how Ryanair evolved into one of the world’s most disruptive and influential airlines.

The co-located APEX FTE EMEA and Ancillary & Retailing events, which took place on 10-12 June in Dublin, included a powerful reflection on how Irish entrepreneurship redefined the aviation landscape – and what lies ahead for the next generation of air travel innovators.

In a fascinating Fireside Chat moderated by FTE’s COO Ryan Ghee, award-winning journalist Tom Lyons, author of Aer Dogs, delved into the gripping true story of how Ryanair evolved from a failing side project into one of the world’s most disruptive and influential airlines. Built out of Ireland and backed by a determined group of visionaries, Ryanair helped establish a new global template for low-fare aviation.

“This is a world-beating airline born in Ireland,” Lyons said. “It’s grounded in the legacy of Guinness Peat Aviation (GPA), which created the aircraft leasing industry, and powered forward by the vision of Tony Ryan and his son Declan, who carried that DNA around the world.”

Lyons retraced Ryanair’s roots – initially just a loss-making side project for Tony Ryan, then CEO of GPA – and the critical moment when GPA’s IPO failed, and the airline suddenly demanded serious attention. The goal was to sell the company, but when no sale materialised, a new idea took hold: transform it.

Frustrated by failed attempts to offload the airline, Michael O’Leary stepped in as CEO and, backed by bold decisions and a small, determined team, set Ryanair on a new course. The carrier listed on the stock exchange in 1997 at a £300 million valuation, and its low-cost model – with efficiency, discipline, and simplicity at the core – became a business case studied around the world.

Taking the model global

Declan Ryan, Tony’s son, played a pivotal but less well-known role in Ryanair’s legacy. After stepping away from the airline’s day-to-day operations, he set out to replicate its success in new regions. From Asia to the Americas, he helped launch and grow five separate airlines, including ventures in Singapore, Mexico, Colombia, and the U.S., often in partnership with local teams and investors.

“Declan Ryan exported Ryanair’s DNA to the world,” Lyons said. “And in doing so, he proved that with the right local knowledge and operating expertise, the low-cost model could work anywhere.”

The power of ancillary thinking

Lyons highlighted Ryanair’s early and aggressive focus on ancillary revenue – from charging for baggage to upselling hotels, car rentals, and show tickets. What began as a tactical decision soon became an industry-defining strategy, and today, ancillary revenue is a key profitability driver for airlines globally.

“Declan Ryan saw early on that the travel journey didn’t stop at the ticket,” Lyons explained. “He saw the commercial opportunity in every part of the passenger experience.”

Resilience through disruption

The keynote also addressed the lasting impact of COVID-19, which tested the business models and leadership of airlines worldwide. In Latin America, the Ryans’ team helped steer Colombian low-cost airline Viva through one of the longest lockdowns in the world – without the state support many European and U.S. carriers received.

“The way they restructured debt and worked with local partners to stabilise the airline was extraordinary,” said Lyons. “It’s a testament to resilience and adaptability – qualities the industry needs more than ever.”

Still charting the future

Today, the Ryan family remains deeply involved in aviation through their investment in Avianca, which may soon go public. They’re also looking ahead – exploring electric aircraft, drone companies, and mobility software platforms.

“There’s a clear vision for what the next 50 years of aviation could look like,” Lyons concluded. “And this group of Irish entrepreneurs is still helping shape it.”

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The story of Ryanair and the Irish entrepreneurs who reshaped global air travel