Analysis of Strategic Management at Ryanair Plc.
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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In this paper, we have chosen Ryanair PLC as our case study. Ryanair PLC is the largest low-cost airline in Europe. Founded in 1985, the company was established to operate as a low-cost airline offering flight services from Waterford and Dublin in Ireland to London. Initially, the company was unlucrative but as management changed, it saw some profits.
Michael O’Leary who is the current CEO of the company introduced a number of strategies based on four pillars namely; low fares, operational excellence, customer service, and ancillary revenues. The strategy of offering low costs aimed to attract more customers and increase its market share by offering the lowest possible costs on flights and flight services. The operational excellence strategy was intended on reducing costs and increasing efficiency by using a single aircraft type, maximizing aircraft utilization, minimizing turnaround times, outsourcing non-core activities, and negotiating favorable contracts with airports and suppliers. The customer service strategy was to improve customer experience by making simpler the booking process, offering flexible options, enhancing digital platforms, and providing fast and reliable service. The ancillary revenues strategy was intended to generate additional income from non-ticket sources such as baggage fees, seat selection, priority boarding, car rental, hotel booking, and travel insurance.
These strategies greatly improved the company and turned it into a great success. As of 2023, the company generated a revenue of €10.78bn up from €4,801bn in 2022. The company connects over 240 destinations across 40 countries.
Important to note that although Ryanair is the leading low-cost airline, it faces a number of strategic problems that are to be discussed in detail in the following sections of this essay. This report will also analyze the company’s strategy in terms of customer service and brand name.
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Analysis of Strategic Management at Ryanair Plc. Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the concepts and tools of strategic management and how they can be applied to a low-cost airline industry.
- Evaluate the strengths, weaknesses, opportunities, and threats of Ryanair Plc. and its competitors using various frameworks such as SWOT, PESTEL, Porter's Five Forces, etc.
- Identify and analyze the key strategic issues and challenges faced by Ryanair Plc. and recommend appropriate solutions and actions to improve its performance and sustainability.
1.0 INTRODUCTION
Founded in 1984, Ryanair is the leading low-cost airline in Europe. The company operates more than 3000 flights per day across 40 countries. Headquartered in Ireland, Ryanair is the largest low-cost airline in Europe and it is one of the leading airlines in the world measured by the number of international passengers carried.
The company offers short-haul and point-to-point routes in Europe. It also offers ancillary services and other core air passenger services such as non-flight scheduled services, internet-related services, in-flight beverages, foods, and merchandise among others. Ryanair has revolutionized the way people travel by offering budget-friendly flights across Europe. With its extensive route network, it has made it easier for people to explore different cities and countries without breaking the bank.
The company has a number of subsidiaries namely; Malta Air, Buzz, Lauda Europe, and Ryanair UK. Due to the company’s strategic management and unique business model, it has been able to achieve significant success in the highly competitive and regulated aviation industry. This report will analyze some of the key aspects of Ryanair's strategy, such as its vision, mission, objectives, competitive advantage, value chain, and corporate social responsibility.
Due to its low-cost business model, Ryanair has had steady growth with its revenue growing year on year. As of 2023, the company’s revenue was €10.78bn up from €4.80bn in 2022.
Key questions to answer include; what is the operations strategy of Ryanair and how does it help to achieve low cost? What is the strategic approach of Ryanair? How did Ryanair change its strategy? What are Ryanair's strengths and weaknesses? Who is Ryanair's main competitor? What is the key success factor of Ryanair?
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