Ryanair presents to DkIT Masters students.

"Ryanair: the only Irish business that is world leader in its field" Howard Millar, Chief Financial Officer and Deputy Chief Executive Ryanair speaks to MBS Entrepreneurship & Marketing class recently

Addressing this year's MBS in Entrepreneurship & Marketing students, Howard Millar Chief, Financial Officer and Deputy Chief Executive of Ryanair spoke of his company which has grown from a fleet of 6 aircraft in 1991 to 275 today. Operating in 26 countries and carrying approximately 75m passengers in 2011, Ryanair is without equal in this cut-throat industry.

Masters students with their guest Howard Millar, Chief Financial Officer and Deputy Chief Executive Ryanair ( 7 from the right) Also in the picture is Mario MacBlain, lecturer on the MBS Programme (4th from right)

During his 60 minute presentation Howard Millar spoke of the background to Ryanair, how he never really expected to bring the business, over a 20-year time span, from where it was-struggling to stay alive, all the way to where it is today- the major player in the aviation marketplace. Having just returned from working in the Middle East, Howard explained that his first week in Ryanair was a baptism of fire. With overdrafts, and a need to re-set the clock on how the finances were dealt with, he set to work at creating what Ryanair is today. Struggling with finances he soon realised that to stay alive the company would have to focus on pulling its costs down, and that is where it all started. By adopting a clear and unfailing focus upon keeping costs down, Ryanair "took off". First there was

John Sisk, Mario MacBlain, Denis Cummins ( President DkIT), Howard Millar, Chief Financial Officer and Deputy Chief Executive Ryanair, and Anne Kierans the free teas/coffee-that had to go. "Irish people love their free coffee, it's madness to ask them to pay for it" was the type of response at the time!. So too went the "free" newspapers and so on. Low costs are the real secret of success, keeping costs down was the priority.

With 160 destinations across Europe and beyond, 30% of all passengers originate in the UK, 22% in Spain, 20% in Italy (where Ryanair is the preferred airline for internal traffic-the Italians see Ryanair as being always on time!), Germany and France are after that with Ireland at 9% with Scandinavia about the same.

This presentation was the first in this year's series of presentations from senior executives to our Masters in Entrepreneurship & Marketing students. John Sisk & Mario MacBlain have created this series and see them as a major source of added value to Masters' students. Following Howard Millar's presentation, there was a lively and very insightful Q&A session. Our master's students were able to ask any questions they wished of this exciting Irish company. The next presentation takes place in November and will be reported on here in DkITIMES.