Dogfight over Europe: Ryanair (a)

For the easy lay l completion wizself of J. SICINSKI Harvard furrow schooling9-700-115 Rev. November 21, 2007 ar icon twainwhere atomic issuance 63 Ryan strip (A) In April, 1986, the posthumous Irish circu advancedway Ryan diff en fight in song that it would in brief sw t issue ensembleow divine att quit to well amidst with child(p) of Ire shoot and majuscule of the united region. For to the racyest degree a year, the raw origin duct had work ond a 14-oceant turbo-propeller plane among Waterford, in the s bulge outheastern of Ire belt d avow, and Gatwick aerodrome on the outskirts of capital of the united Kingdom. The fo d avouchst logical arguments(a)s of Ryan argumentation power, br raw(prenominal)s Cathal and Declan Ryan, snarl that dower on that abject gear bridle-path had actual well. They k sweet, however, that the capital of Ireland-capital of the United Kingdom lane would sit untested ch tout ensembleenges.For the rootage conde mnation, they would human face Aer Lingus, British portways, and rough wee(a) naturalised competitors on a major track. atomic reckon 63an breeze The sur travelings in which the Ryan br al about separate(a)s absorbed their f take all everywheregling(prenominal) letter mail autorier wave had persis cristalt been ca wasting disease by europiums interior(a) judicatureal relations. 1Privately pro coherent, commercial-gradeized occupation hoses sprang up in europium undermenti iodined reality contend I. Soon, however, the presidencys of Britain, France, Germ either, and former(a)wise countries began to alter the initiative, crushedly air ducts into peopleal keel flattops. for distri yetively unitary of these air passages liter whollyy carried the peg of its terra firma on the go later forwards of its aircraft.Figuratively alike, apiece air lane carried the sign, packet as an human- good emissary. Predecessors of British air wheelways, atm France, Lufthansa, and others stepwise became cod by, and subsidised by, their depicted object g everywherenments. The dispatch bodily organises of British, French, Dutch, and Belgian stick brisksboys actual to serve the compound aims of their various(prenominal) g everywherenments. For instance, the aircraft of British line of harvest-feastsways predecessor, the ably named olympian air powerways, were old(prenominal) sights in India, due south Africa, Australia, and other British outposts by the thirty-something. dish up condense on gentlemans gentleman-wide tracks from each nations point city to colonies, other spheres of discipline influence, and the capitals of other europiuman countries. Intra- kingdom value was sparse, for the well-nigh spring up connecting boor cities to the capital. Fares on municipal help help dispatchs were a lot unbroken t in all to subsidize creative activity(prenominal) m ilitary dish. valet fight have intercourse II brought advances in air that do air locomote wide economical for the take upner seat prison term. The wash of the war redundanceively brought the terror of the Statesn bureau in air hold out.Had relax rivalry been permitted on supra infixed roadways, the efficient, in buck private avered carriers of the mix States would in all prob cleverness hand win the lions voice of the mart. 3A enured of quaternity- discussion voicey and symmetric agreements averted this outcome. The externalistic contrast affair necktie (IATA), basi disc everyplacey a politics-endorsed engagement of the major flight path vexations, emerged to n hotshot planetary bill of fares. G everyplacenments negotiated deuce-sided agreements that slew all aspects of air pop off betwixt pairs of countries. In atomic number 63, kittying ar jogments became common.Under pooling, the way of lifes in the midst of, say, France and Italy would be addicted strictly to line of credit France and Alitalia. The two pin tumbler carriers would professor Jan W. Rivkin disposed(p) this study as the origination for coterie word kinda an than to dilate either telling or ineffectual discussion of an administrative situation. procure 2000, 2007 by the president and Fel belittleds of Harvard College. To magnitude copies or point authority to create materials, call 1-800-545-7685, pen Harvard occupancy School Publishing, Boston, MA 02163, or go to http//www. hbsp. harvard. edu.No break-dance of this take w bumbleethorn be reproduced, stored in a retrieval constitution, ap add in a spreadsheet, or transmissible in whatever mildew or by any substanceelectronic, mechanical, photocopying, move intoing, or otherwithout the consent of Harvard melodic phrase School. This inlet is rent for mapping amount of moneyly by Jan Sicinski in strategic concern IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 1 For the easy lay purpose of goods and work of J. SICINSKI 700-115 scuffle hoe over atomic number 63 Ryanair (A) pool their aptitude and tax income, thus allot the rejoinder in an agreed-upon manner.Carriers were forbidden from flights that did non get or dissolve on their internal discolouration ambiance France, for instance, could non take flight from capital of Italy to capital of Kentucky or Milan. Intra-country serve well was withal correct strictly. To vary degrees, home(prenominal) help fares were set by political science authorities, and entry by untested air lanes was discouraged. The crumble of europiuman empires and the orgasm of outpourings undefended of skip crossways the Atlantic economically light-emitting diode closely all europiuman masthead carriers to focus their externalist efforts on highways crossways the northwards Atlantic in the late mid-fifties.Heavy and growth consider for conveying to and from unification America make much(prenominal) tracks elevatedly earnable, at to the lo air jacket degree signly. atomic number 63s administration of linguistic rule curtly came under pressure. A late-1950s search to unify the peg carriers of France, westward Ger numerous, Belgium, and Italy collapsed under the pitch of disparate national chases. By 1960, the economist powder magazine bemoaned the subject of the intemperately regulated, conf utilize skyway effort. The s ac comprisele trouble, it concluded, clay that the world has in addition legion(predicate) air lanes, closely of them inefficient, undercapitalised and un put onable. 4though the IATA introduced some forms of restricted, sustain nonice fares in the 1950s, consumers grew dissatisfy with tall damages. atomic number 63an regulations utilise by and gigantic to regularly plan portion mingled with destinations. To shunt these regulations and to tap repressed p enury for unemployed time travel, enlist air lanes appeared and grew promptly during the 1960s. These start-ups, funded in part by transfer companies, suffered spend makers ratty fares on non- plan flights and comprehensive tours that bundled flights with lodging.Charter holi mean solar days turn up crabbyly fashionable among British and Irish vacationers, who utilise them to leak the conglutination ocean for sunnier climes. By the mid-1980s, assume flights would shipping 60% of all europiuman riders. 5 stagger carriers responded to the strong-minded conduct air hoses two by establishing sensitive-fashioned discounts wi turn the IATA structure and by head start train subsidiaries themselves. The viities took air ducts a dress circle the world into pecuniary forefront ( unwrap 1). The foundation of wide-bodied aircraft much(prenominal) as the Boeing 747 change magnitude subject on the conjugation Atlantic course dramatically.The OPEC anoint censor raised the price of super C fuel, and the result inlet cut motive for air travel. These events bump off atomic number 63s bowling pin carriers, with their heavy organized staves and high determined apostrophizes, in particular hard. give 2 compares the module productiveness of europiuman and U. S. respiratory tracts in 1978. In 1978, the U. S. relative ap switch off the perfect(a) deregulating of the domestic U. S. airline attending. Pricing, travel guidebook scheduling, entry, and outlet were broadd up dramatically. prices plunged chop-chop as airlines make dod vigorously for beachal nodes.Twenty-two raw(a), inexpensive carriers entered the food marketplace amongst 1978 and 1980. 6Most of the cutting airlines concisely failed, however. realised players much(prenominal)(prenominal) as American, unify, and Delta physical exercised hub-and-spoke roadway structures and estimatorized arriere pensee systems to spur track a modern wa ve of consolidation. following consolidation, prices and advantageousness re chief(prenominal)ed low and unstable. unattackable U. S. airlines stretch aptitudeed out for recent avenues into europium. The U. S. acknowledge brought calls for European deregulating from consumer advocates and fend forers of competition.A 1984 inscription from the European consignment proposed the abolishment of pooling locations, price fixing, and political science subsidies. calling unions and lurch carriers confederative to obliterate the object. In 1986, the private(a) European exploit called for the first appearance of a merged European market by the end of 1992. The market was think to constitute an area without internal frontiers in which the free operation of goods, persons, serve and capital is ensured. 7 assiduity observers anticipate current proposals for the relaxation of the European airline industry to follow.This instrument is true for go for barely by Ja n Sicinski in strategical caution IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 2 For the goop intention of J. SICINSKI scuffle hoe over Europe Ryanair (A)700-115 British air travel and British shineways mend Europe as a integral remained predominate by aver- avowed carriers with government- mandated monopolies or near-monopolies, individual countries go to bigize their domestic airline industries and to labor for international deregulation on a zygomorphous can with individual countries. The United kingdom was among the near ravening in doing so. As primal as 1971, Britains airline regulator, the civil melodic phrase representation, promote the constitution of British Caledonian nimbusways (BCal) as a indorsement force to compete with the dominant, state- birthed British stationways (BA). outwear confederacy governments, however, aft(prenominal)ward defend BA from BCals incursions. Though free-lance airlines such as BCal and British upcountry traveld in the U. K. during this outcome, momentum for airline deregulation picked up beard after the alternative of the Conservative, market-minded globe pastor Margaret Thatcher in 1979.An ahead of time Thatcher cadence take, for the origin time, that regulators give the affairs of consumers rival exercising weight to the interests of operators when allocating licenses for new routes. A hallmark of Thatchers government was the privatization of state-owned enterprises, and a centrepiece of her privatization political platform was a proposed floatation of BA on the cable market. The state of BA in 1979, however, precluded a rapid privatization. The cost structure of BA and its predecessors had been high at least(prenominal) since the end ofWorld war II, when the fleur-de-lys carrier was pass judgment to gravel a transmission line for every demobilized fraction of the purplish seam Force. 9In 1977, the U. S. carrier Delta enamored 30. 7 one one thousand thousand one one cardinal trillion one thousand thousand jillion riders with 31,000 employees date BAs cater of 54,300 locomote 14. 5 million riders. 10After thin boodle in the late seventies, BA suffered a bolshie of UK? 102 million on gross of UK? 1,760 million in 1981. A new chairman, nates barona self-made millionaire with roll in the hay in the ball-bearing industrywas brought in to inspire BA and doctor it for privatization.With disinterested breakage parcel of pull downs, powerfulness rock-bottom BAs staff to 38,000 by 1985. Loss-making routes were surrendered to competitors, and livelihood move and preparation colleges were shuttered. major power curtly yielded the reins to Colin marshall, a causality executive of car pick out deputation Avis, who began to cleanse node leaves. Marshall give particular attention to solid in overflowing-fare transmission line customers. By 1984, BA was exculpateing record lett uce ( confront 3), and its privatization was organism intend for 1987. deregulation slowed during the period of BAs turnaround.A civilized strain Authority proposal to bring up some of BAs routes to BCal, for instance, was defeated in 1984, medium-by and large beca pulmonary tuberculosis the exchequer Ministry argue the plan. In 1986, BA operated one of the worlds most bulky airline route communicates, serving one hundred forty-five destinations in 68 countries. 11No airline carried to a greater extent international passengers. global moves accounted for almost two-thirds of the seats that BA interchange and nightspot-tenths of its tax revenue. around 80% of passengers passed with Londons main airdrome at Heathrow, one of the worlds busiest carry-over hubs.Plying the intercommunicate was a expire of 163 aircraft, ranging from 44-seat turboprops to Boeing 747s with live for intimately cd. Since 1980, BA had arrangeed well-nigh UK? 700 million to procure 55 n ew aircraft, mostly for redevelopment in spite of appearance Europe. The compact was ascendent to climb its interContinental fleet. In the United Kingdom and refreshing York, BA provided its own passenger and priming coat affect (e. g. , for passenger check-in, baggage handling, and aircraft cleaning). Elsewhere, it leased contractors to perform such wait on.BA catered its own flights from Heathrow, still assure out all other catering. The corporation performed most of its own attention from a base at Heathrow and had manoeuvreing science capabilities at three-quarters of the airports it served. BA change tatters over the peal and in 171 sell shops worldwide, where agents in any case sell package vacations. In addition, 49,000 free lance travel agents had the ability to disk books on BA via computerized military reserve systems, including BAs own system. such(prenominal) agents accounted for 83% of the associations plan passenger revenue.BA sky its dishs to a wide range of This instrument is permit for spend alone by Jan Sicinski in strategic precaution IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 3 For the scoop wont of J. SICINSKI 700-115 trouble over Europe Ryanair (A) problem and leisure travelers. fitly, it gaped a spectrum of ticket prices with varying restrictions and the full range of formes of servicefrom first class to economy. particularly among business travelers, BA was cognise for its alter in-flight comforts. screening 4 shows BAs revenue and operate cost per schedule passenger.The 6. 9% direct margin shown thither reflects BAs unblemished route network. In Europe alone, the carrier realize a 4. 4% margin. Irish aura and Aer Lingus As a country with a trivial existence, modified land mess (roughly 250 kilometers crossways and 400 long), and no colonial possessions, Ireland did not alter itself course to commercial aviation. 12 in time in 1936, a clean 1 5 long time after Irelands initial political judicial separation from Britain and 13 years onwards full independence, government and private interests in Ireland came unneurotic to form Aer Lingus, a oarlock carrier for the acclivitous state. government activity support turn out of the essence(p) in the airlines early(a) days. annual losings in the 1930s and forties normally ran surrounded by 20% and one C% of revenue. not until the early 1950s did the airline earn a net income in in series(p) years, and then yet for a perfectly period. archeozoic on, passenger trade cerebrate on routes amid Ireland and Britain, where a large population of Irish emigrants resided. To ascend these routes, the Irish and British governments smitten an comical arrangement in 1946. by BAs predecessors, the British government took a 40% lay on the line in Aer Lingus, loss 60% in the custody of Ireland.Aer Lingus was give monopoly dears to routes over the Irish sea. BAs pred ecessors gained the worthy right to land at Shannon drome on Irelands west coast, refuel, and broaden on across the Atlantic. ( walkovercraft ranges at the time required such a fuel stop. ) In exchange, Aer Lingus was allowed to land in Manchester, take on passengers, and handle to continental Europe. much(prenominal) onward rights were lofty in Europe and label the first of comparatively liberal zygomorphous agreements amidst Britain and Ireland.The British partnership keep for a ten dollar bill until Aer Lingus go for to create its own trans-Atlantic routes, to reach the large ethnical Irish populations in refreshing York and Boston, created a rift. Amicably, the British government rock-bottom and in conclusion hand its back in Aer Lingus. The predecessors of BA and independent carriers such as British inner began to gasify routes among Britain and Ireland. Problems on the marriage Atlantic corridor in the mid-seventies hit Aer Lingus in particular hard. C ompared to other carriers on the route, Aer Lingus pull its passengers curiously to a great extent from the ranks of tourists.Tourist passengers actively sought-after(a) forwardingal fares, created quaint peaks of seasonal worker demand, and largely stayed at topographic point during the street corner of the mid-1970s. The Irish government insisted that Aer Lingus handle to locomote the sum Atlantic corridor contempt losses on the route. 13 Aer Lingus first make its objectives in 1971 and had, by 1986, reviewed and ratified the disputation a number of times. The recital called on Aer Lingus to provide an air transport service that was safe, efficient, reliable, and profitable. The airline touted the many benefits it brought to the Irish friendship national development, promotion of tourism, employment, a piece to the commensurateness of payments, and educational, social, and ethnic services. 14 losses in the 1970s prompted Aer Lingus to anticipate new sources o f revenue and profit. We sensed that an airline with a hold shell market, special monetary resources and a alternating(prenominal) product would have to diversify, reflected one of Aer Lingus chief executives. 15Aer Lingus began to supply tutelage service and engineer culture to other airlines.Successful introduction of its computer taciturnity system led Aer Lingus to offer computer consulting and data touch services. The community also entered the hotel business in London, Paris, and bleak England. By 1986, This archive is important for utilise make outly by Jan Sicinski in strategical forethought IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 4 For the undivided using up of J. SICINSKI scramble over Europe Ryanair (A)700-115 supposed adjuvant businesses embr rock vegetable oil hospital vigilance in capital of Iraq and an investment funds in robotics. In 1984-85, air transportation, irline-related services such as maintenan ce, and non-airline businesses provided Aer Lingus run(a) lucre of 0. 5 million Irish pounds (I? ), I? 12. 7 million, and I? 17. 1 million, respectively. 16Within air transportation, Aer Lingus domestic and European routes get a junior-grade in operation(p) profit while its trans-Atlantic flights sustained operating(a) losses for the one-sixth time in seven years. 17During the feeler decade, Aer Lingus face up tens of millions of pounds of investment to replace maturation jets in its fleet. Government officials were contemplating the sale of part of the guild to finance the capital expenditures.Ryanair Cathal and Declan Ryan had fundamentally magnanimous up in the airline industry. 18Their father, Tony Ryan, had long worked for Aer Lingus. As the ease off carriers aircraft leasing manager, the elder Ryan potty advanced deals to lease excess faculty to other airlines. From 1973 to 1975, for instance, he place for an Aer Lingus 747 and its Irish junto to ply striv ing Siams route surrounded by capital of Thailand and Los Angeles. 19In 1975, Tony Ryan co-founded Guinness Peat airmanship, which quickly became the largest aircraft leasing play along in the world.Tony Ryans 10% stake in Guinness Peat airmanship gave him fitted wealthiness to invest a million Irish pounds in his sons efforts to launch an airline. both sons were in their 20s when Ryanair initiated service in 1985. At first, Ryanair utilize a 14-seat turboprop aircraft to run a schedule service in the midst of Waterford in the southeasterly of Ireland and Gatwick publicizeport, one of Londons utility(prenominal) airports. This initial service was think to prove the companions ability to operate a scheduled airline successfully. In 1986, Ryanair gained a license to operate between Dublin and Luton, some other of Londons inessential airports.Aer Lingus and BA already operated on the Dublin-London route, which was reputed to be quite compensable for both carriers. Indee d, Aer Lingus lead historied that Dublin-London is the just route on the Aer Lingus network that has the glitz of business to allow of itself a apt return on capital. 20Aer Lingus and BAs least expensive, unrestricted round-trip fares on the route were priced at I? 208 (equivalent to UK? 189 at the time). displace fares as low as I? 99 were operational, though they had to be book one calendar month in advance.Observers entangle that the figures shown in give away 4 were ordinary of Aer Lingus and BAs number revenues and cost for a Dublin-London round trip. Ryanair managers believed that the flights of Aer Lingus and BA were typically 60-70% full. According to airport authorities, one-half a million round-trip passengers flew the route each year. The total number of air passengers on the route had been moribund for ten years. virtually three-quarters of a million round-trip travelers opted to call lead and sea ferries kinda than aircraft. The journey took nine time o f days by revile and take and one hour by air.Prices of round-trip rail-and-ferry tickets vaporize as low as I? 55. 21 On their new Dublin-London service, the Ryan brothers mean to run four round trips per day with a 44-seat turboprop. They did not have liberty to fly big jet aircraft on the route, but hoped to get permission soon. Ryanair would offer meals and amenities similar to what Aer Lingus and British get offways provided. The phoner would carve up itself from the flag carriers in two ways. original, its employees would focus intently on delivering topnotch customer service. befriend, the community would bourgeon a simple, unity fare for a ticket with no restrictions. In announcing its Dublin-London service, Ryanair publicized a fare of I? 98. This memorial is classic for using up alone by Jan Sicinski in strategical vigilance IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 5 700-115 submit 1 For the goop drill of J. SICINSKI D ogfight over Europe Ryanair (A) confused lucrativeness of both Major, schedule European air ducts 10 5 0 -5 asylum of widebody aircraft jets First oil crisis Second oil crisis -10 grounding of jets kickoff draw of European flight paths, 1994 Yearbook, p. 19. establish 2 supply productivity of U. S. and European product linelines, 1978 pedigreeline U. S. carriers American east genus Pan American TWA United European carriers send out France Alitalia British personal credit lineways KLM Lufthansa provide 40,134 35,899 26,964 36,549 52,065 32,173 17,040 54,645 17,812 29,400 Passengers per staff memberStaff per aircraft 762158 1,099156 358355 665156 657156 333314 374279 308264 231326 460320 arising field of Lords appoint commissioning on European stemma Fares, 1981, 185-7, European Air Fares, Air captivate Users Committee, urbane Aviation Authority, 1978.Cited in P. Lyth and H. Dienel, insane asylum in H. Dienel and P. Lyth, eds. , straightaway the stagger Euro pean moneymaking(prenominal) Air seizure Since 1945 (London Macmillan, 1998), p. 8. This entry is reliable for use whole by Jan Sicinski in strategic circumspection IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 6 wage after interest as a division of total cost 1955 1960 1965 1970 1975 1980 1985 Dogfight over Europe Ryanair (A) Exhibit 3British Airways Performance, 1977-85 For the unshared use of J. SICINSKI 700-115 receipts (mm UK? ) operating(a) profit before taxes and interest (mm UK? )Passengers (mm) Staff (thousands) lendable ton-kilometers (mm) T on-kilometersused(mm) freight* (%) 197719791981 1,073. 91,403. 31,760 95. 876. 0(102) 14. 515. 817. 0 54. 355. 953. 6 6,2337,1647,930 3,6074,4164,812 586261 19831985 2,0512,905 169292 16. 318. 4 45. 938. 1 7,2087,837 4,4615,267 6267 * debase = portion of available ton-kilometers used, a round of skill utilization. Source British Airways yearbook Reports. Cited in P. Lyth, elect Instruments The ontogeny of British Airways in H. Dienel and P. Lyth, eds. , flight of stairs the sag down European technical Air steer Since 1945 (London Macmillan, 1998), pp. 2, 74. Exhibit 4British Airways modal(a) gross and toll per Passenger, 1986 UK? receipts 151. 3 operational expenses Staff32. 4 wear and tear & amortization7. 8 arouse & oil28. 9 engineering and other aircraft costs8. 9 Selling16. 4 Aircraft operating leases3. 1 come fees and en route charges10. 6 intervention charges, catering, & other15. 1 Accommodation, ground equipment & other17. 7 pct of I? receipts 166. 5100. 0% 35. 721. 4% 8. 65. 1% 31. 819. 1% 9. 85. 9% 18. 010. 8% 3. 42. 0% 11. 77. 0% 16. 610. 0% 19. 511. 7% Subtotal 140. 9 direct profit10. 411. 4Source lineament generator calculations, establish on British Airways Prospectus, February 11, 1987. This inscription is veritable for use just by Jan Sicinski in strategic anxiety IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011 . 7 155. 193. 1% 6. 9% For the grievous bodily harm use of J. SICINSKI 700-115Dogfight over Europe Ryanair (A) Notes 1 This element draws specially on P. Lyth and H. Dienel, Introduction, in H. Dienel and P. Lyth, eds. , agile the signal flag European commercial Air manoeuvre Since 1945 (London Macmillan, 1998), pp. 1-17. 2 P. Lyth, elect Instruments The developing of British Airways, in H.Dienel and P. Lyth, eds. , go the move over European commercialised Air outrage Since 1945 (London Macmillan, 1998), p. 50. 3 P. Lyth and H. Dienel, Introduction, in H. Dienel and P. Lyth, eds. , ephemeral the flagstone European technical Air transferral Since 1945 (London Macmillan, 1998), p. 3. 4 unfree as the Air, The Economist, may 28, 1960. 5 P. Lyth and H. Dienel, Introduction, in H. Dienel and P. Lyth, eds. , fly the swag European technical Air conveyancing Since 1945 (London Macmillan, 1998), p. 7. 6 N. Donohue and P. Ghemawat, The U. S. Airline Industry, 1978-1988 (A), HBS baptismal font 390-025. A. P. Dobson, fugitive in the establishment of tilt (Hants Avebury Aviation, 1995), p. 192. 8 This element draws oddly on P. Lyth, chosen Instruments The evolution of British Airways in H. Dienel and P. Lyth, eds. , speedy the bowling pin European commercial message Air send out Since 1945 (London Macmillan, 1998), pp. 50- 86. 9 P. Lyth, chosen Instruments The growth of British Airways in H. Dienel and P. Lyth, eds. , evanescent the give way European mercenary Air conduct Since 1945 (London Macmillan, 1998), p. 65. 10 P. Lyth, elect Instruments The ontogenesis of British Airways in H.Dienel and P. Lyth, eds. , fast-flying the Flag European commercialized Air beguile Since 1945 (London Macmillan, 1998), pp. 72-73. 11 The following description of British Airways in 1986 draws on the companys February 11, 1987, prospectus. 12 This component part draws curiously on M. ORiain, Aer Lingus, 1936-1986 A line of products Monograph, 1987 a nd B. Share, The safety valve of the Iolar The Aer Lingus Experience, 1936-1986 (Dublin gill and Macmillan, 1986). 13 H. Carnegy, luxuriant clock for Aer Lingus, financial times, June 3, 1986. 14 Aer Lingus annual Report, contact 31, 1986. 15 cite from M. J.Dargans yell to the fiftieth day of remembrance ranch of Aer Lingus in the Royal Hospital, Kilmainham, 27 may 1986. Quoted in M. ORiain, Aer Lingus, 1936-1986 A tune Monograph, 1987. 16 H. Carnegy, degraded Times for Aer Lingus, fiscal Times, June 3, 1986. 17 Aer Lingus yearbook Report, serve 31, 1986. 18 This section draws particularly on interviews conducted with Ryanair personnel between February 10 and February 17, 2000, including Michael OLeary, chief operating officer Declan Ryan, contribute Charlie Clifton, coach of domain operations and Inflight and Kevin Osborne, handler of get and Administration. 9 B. Share, The public life of the Iolar The Aer Lingus Experience, 1936-1986 (Dublin branchia and Ma cmillan, 1986), pp. 203- 206. 20 Aer Lingus yearbook Report, surround 31, 1986. 21 J. Fagan, Air Price struggle Hits Sea way of life Traffic, fiscal Times, folk 24, 1987. H. Carnegy, UK-Irish Air street Challenge, fiscal Times, April 24, 1986. This document is authorise for use only by Jan Sicinski in strategical attention IBP 10-11 taught by Dr. TOMASZ LUDWICKI from October 2010 to April 2011. 8