Impacts of Credit Crunch on Ryanair Research Proposal

Impacts of Credit Crunch on Ryanair - Research Proposal Example In February 2008 Reuters reported that global inflation was at historic levels (Reuters 12 02 2008) Ryanair, the first Low Cost Carrier in Europe, it was founded in 1985 (Ryanair.com History 2008). Ryanair began operations with a staff of twenty-five and a single 15-seat airplane flying connecting Waterford and London. In 1986 Ryanair got authorization to begin flying four flights a day on the Dublin-London route. Utilizing the opportunity, they broke the monopoly of British Airways and Aer Lingus with fares that were much lower. Ryanair's strategy (initially) was to offer simple, low-cost fairs and exemplary customer service. During the later part of the 80s Ryanair continued to compete vigorously with British Airways and Aer Lingus while adding additional routes and airplanes (Creaton 2004). In 1990 Ryanair suffered a 20 million loss and was forced to completely restructure. A new CEO - Michael O'Leary - was charged with making the airline profitable. O'Leary visited the USA to study the 'low fares/no frills' model being used by Southwest Airlines. O'Leary promptly determined th at the key to low fares was to implement quick turn-around times for aircraft, "no frills", and no business class, as well as operating a particular model of aircraft (Ryanair About Us n.d.). Regardless of the decline in overall airline traffic, Ryanair made a profit of 293,000 for the year and carried 651,000 passengers. In 2000, they announced the launch of 10 new European routes for the summer and the company launched their new online booking site and in just 3 months the site was taking over 50,000 bookings a week (Ryanair About Us n.d.). After the tragedy of 9/11, the whole air transportation industry suffered a drawback and airline companies had to modify their strategies in order to adapt to the new situation that led to an increase in oil prices and a downturn in traffic (Gloomy Ryanair 2008). Ryanair, instead of cancelling thousands of flights, adapted the opposite strategy (DG TREN - ANALYSIS OF THE EUROPEAN AIR 2001). The company took advantage of empty slots in the airports, which were until the date the biggest constraint in European airports. In 2008 Ryanair is the 3rd largest airline in Europe; it has 31 bases and carries 50.9 million passengers annually (Ryanair Annual Results 2008). The firm's whole story is built on ambitious growth targets.

Critically discuss and analyse 2012 London Olympic play in their Essay

Critically discuss and analyse 2012 London Olympic play in their capacity to generate social, cultural, economic and tourism impacts - Essay Example Hosting the Olympic Games has also been something that many countries want to be associated with especially when it comes to hosting (Tcha 2004, p. 312). The history of the Olympics back to Athenian period, where they are thought to have originated from (Veraros, Kasimati & Dawson 2004, p. 749-50). Since then, the competitions have developed and increased in the number of sporting events and the manner in which the competitions are organized. The Olympic Games are usually held after every four years, compared to other sporting events that in most cases take place on a biennial basis. Organization of the Olympic Games is a mandate of the International Olympic Committee (IOC), a body that was initiated in 1894 with current headquarters in Britain. Currently, many countries across the world dream of hosting the Olympic games after the time required, there is always a lot of bidding for hosting rights of the sporting event. The motivation to host these events is usually preceded by the thought of perceived benefits that the events pose to the state (Caporale, Economou & Philippas, 2008, p. 10; Berman, Brooks & Davidson 2000, p. 785). Previously, statistics and records compiled at the end of the Olympic Games show that in spite of the huge costs incurred in preparations for hosting of the events, there are huge benefits derived from successful Olympic Games. The 2012 Summer Olympics were also commonly referred to as the 2012, and were a major international multi-sport event that were held and celebrated in the tradition of the Olympic games. These events took place in the London capital in the United Kingdom in the 2012 and attracted more than 200 nations with over 10, 000 athletes taking part in the different athletics categories. Following a successful bid, London was able to outwit other fierce rivals in the hosting process that included Russia’s Moscow, the New York City of United