A loss of €3.3 million in the second quarter of 2004 was the airline's first recorded loss for 15 years but the airline became profitable soon after.
The enlargement of the European Union on opened the way to more new routes for Ryanair.
It says that by cutting airport check-in, it reduces overhead costs.
The new airline would be separate from Ryanair and operate under a different branding.
is an Irish low-cost airline founded in 1984, headquartered in Swords, Dublin, Ireland, with its primary operational bases at Dublin and London Stansted airports.
In 2016, Ryanair was the largest European airline by scheduled passengers flown, and carried more international passengers than any other airline.
On 13 February 2006, Britain's Channel 4 broadcast a documentary as part of its Dispatches series, "Ryanair caught napping".
The Irish government at the time refused its approval to protect Aer Lingus, but Britain–under Margaret Thatcher's deregulating Conservative government–approved the service.
Flights were scheduled into regional airports, which offered lower landing and handling charges than larger established international airports.
O'Leary as Chief Executive took part in a publicity stunt where he helped out with baggage handling on Ryanair flights at Dublin Airport.
O´Leary was charged with the task of making the airline profitable. Southwest Airlines convinced that Ryanair could make huge inroads into the European air market, at that time dominated by national carriers, which were subsidised to various degrees by their parent countries.
O'Leary quickly decided that the keys to profitability were low fares, quick turn-around times for aircraft, "no frills", no business class, and operating a single model of aircraft. He competed with the major airlines by providing a "no-frills", low-cost service.