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Business Description
Ryanair Holdings plc operates a low-fare, no-frills scheduled passenger airline, serving short-haul, point-to-point routes in Europe from its bases at Dublin, London Stansted, Glasgow Prestwick and Brussels (Charleroi). In operation since 1985, Ryanair introduced its low-fares, no-frills operating model under a new management team in the early 1990s. With its fleet of 42 planes, including Boeing 737- 200A jet aircraft and new Boeing 737-800 next-generation aircraft, the Company offers approximately 245 scheduled short-haul flights per day serving 11 locations in England, five locations in Ireland, two locations in Scotland, one in each of Wales and Northern Ireland and 27 locations in continental Europe. The Company offers 76 low fare routes across 13 countries.

Financial Information
Ryanair Holdings plc operates a low-fares, no-frills scheduled passenger airline serving short-haul, point-to-point routes primarily between Ireland and the U.K. For the nine months ended 12/31/02, revenues increased 36% to EUR650.5 million. Net income according to U.S. GAAP increased 66% to EUR194.8 million. Revenues reflect a very strong growth of passenger traffic due to lower air fares. Net income reflects higher interest receivable.