Ryanair： the low fares airline - 'always getting better?

瑞安航空(Ryanair)：廉价航空公司--“总是变得
更好？”

Ryanair, the first and largest budget airline in Europe, has enjoyed remarkable growth and
success, based on a rigorously applied low-cost business model, with robust operating and
financial performance even during the financial recession. However, Ryanair's prevous
indifference to repeated complaints about its poor standards of customer service was
suddenly reversed in 2014 with the introduction of an 'Always Getting Better' plan. The case
illustrates how to analyse and deploy internal resources and capabilities to add perceived
value to customers, thereby delivering sustainable strategic advantage. It also explores the
difficulties of developing and extending strategic capabilities in response to changing
environmental and industry conditions 瑞安航空(Ryanair)是欧洲第一家也是最大的廉价航空公司，基
于严格应用的低成本商业模式，取得了令人瞩目的增长和成功，即使在金融衰退期间也有强劲的运营和财务表
现。然而，瑞安航空对一再抱怨其糟糕的客户服务标准的一贯漠不关心的态度在 2014 年突然逆转，引入了一
项“总是变得更好”的计划。案例说明了如何分析和部署内部资源和能力，以增加客户的感知价值，从而提供
可持续的战略优势。它还探讨了发展和扩展战略能力以应对不断变化的环境和行业条件的困难。

Teople say the customer is always right, but you know what - theyTre not. Sometimes they are
wrong and they need to be told so 有人说顾客总是对的，但你知道吗--他们错了。有时他们错了，需要告
诉他们/

Michael Oleary, before 2014

lf I had known that being nice to customers was going to be so good for my business, I would
have done it years' ago. Everyone loves a converted sinner. We have learned humility - and that
we have to keep learning and listening to our customers? 如果我早知道对客户好会对我的生意这么有
好处，我几年前就会这么做了。每个人都喜欢改过自新的罪人。我们已经学会了谦逊--我们必须不断学习和倾听我
们的客户？

Michael O*Leary, November 2014

In November 2014, CEO Michael O*Leary predicted a full year 2016 profit growth of 20 per cent.
Ryanair shares had closed at a record high of €14.66? Customer traffic for the summer was over 30
million, with an average load factor of 95 per cent and over 90 per cent punctuality.2014 年 11 月，首席
执行官迈克尔·奥利里(Michael O*Leary)预测 2016 年全年利润增长 20%。瑞安航空的股票以 14.66 欧元的创纪录
高位收盘？夏季客流量超过 3000 万人次，平均载客率达到 95%，准点率超过 90%。

In those 12 weeks, Ryanair had more customers than Air France in a full year； it became the first
airline to carry over 10 million international customers in a single month. Cost discipline was evident,
with fuel down five per cent and other costs expected to decline by one per cent for the year. Profits,
excluding exceptional items, at €1088m for the first half exceeded the previous year by 37 per cent.在
这 12 周里，瑞安航空全年的客户数量超过了法国航空公司；它成为第一家在一个月内运送超过 1000 万国际客户

的航空公司。成本纪律很明显，燃料价格下降了 5%，其他成本预计今年将下降 1%。上半年不包括特殊项目的利

润为 1.088 亿欧元，比去年同期增长 37%。

'Always getting better'“总会好起来的”

This was almost a year after the airline had turned a new leaf in its attitude to customers. Previously,
Ryanair had conveyed 'The customer is usually wrong. The only time you hear from a customer is when
they're complaining because they want to break our rules. Why can't I get a refund for my
non-refundable ticket? Bugger off So proclaimed Michael O'Leary in 2010.这是该航空公司在对待客户的
态度翻开新篇章近一年后。此前，瑞安航空传达了这样的信息：“顾客通常是错的。你唯一能听到顾客抱怨的是他
们想违反我们的规定。为什么我不能退还我的不可退票？”迈克尔·奥利里(Michael O‘Leary)在 2010 年曾这样
宣称：“滚开/2”。

The carrier had attracted complaints for its inflexible baggage policies and punitive charges, like hefty
cancellation and change penalties, and charges for printing boarding passes. However, these
customer-unfriendly practices had not appeared to daunt passengers who continued to fly Ryanair for
its low fares.该航空公司因其僵化的行李政策和惩罚性费用而招致投诉，比如高额的取消和变更处罚，以及打印
登机牌的费用。然而，这些对客户不友好的做法似乎并没有吓倒那些继续乘坐瑞安航空(Ryanair)航班的乘客，因
为瑞安航空的票价很低。

However, in autumn 2013, a series of events made Ryanair sit up and listen. The airline was voted
worst of the 100 biggest brands in the UK in customer relations by readers of the consumer magazine
Which?. Its adversarial treatment of customers culminated in a wave of negative publicity after its
refusal to allow a passenger to change his flight home to the UK when he learned his entire family had
died in a house fire. Faced with heightened competition from other carriers offering cheap fares and
recognising that some passengers were willing to pay higher fares to competitors for a better customer
experience, Ryanair did an about-face, changing its historic service attitude. Perhaps the most
convincing factor that a change would be worth trying was pressure on fares and profits.然而，在 2013
年秋季，一系列事件让瑞安航空(Ryanair)坐起来倾听。该航空公司被消费者杂志 Which？的读者评为英国 100 个

最大品牌中客户关系最差的品牌。该公司对客户的敌意对待在一波负面宣传浪潮中达到顶峰，此前该公司拒绝允

许一名乘客更改飞往英国的航班，因为他得知自己的全家都死于一场房屋火灾。面对来自其他提供廉价票价的航

空公司的激烈竞争，并认识到一些乘客愿意向竞争对手支付更高的票价以获得更好的客户体验，瑞安航空做出了

180 度大转弯，改变了其历史悠久的服务态度。也许最有说服力的因素是票价和利润面临的压力，这一改变值得

尝试。
Thus, in January 2014, Ryanair rolled out its 'Always Getting Better' (AGB) three-year plan.
Significantly, the airline appointed its first Marketing Director, Kenny Jacobs. Heretofore, Ryanair had
relied on newsworthy publicity stunts and provocative statements from Michael O'Leary as marketing
tools, on the assumption that no publicity is bad publicity. Examples of Mr O'Leary's statements were
that overweight people should pay extra and that passengers should have to pay a fee to use onboard
toilets. Then, in January 2016f Ryanair hired its first PR head, Cristian Samoilovich, former manager of
European public policy for Uber to handle relations with European governments and institutions.因此，
2014 年 1 月，瑞安航空(Ryanair)推出了“永远变得更好”(AGB)三年计划。值得注意的是，该航空公司任命了第

一位营销总监肯尼·雅各布斯(Kenny Jacobs)。到目前为止，瑞安航空一直依赖于具有新闻价值的宣传噱头和迈克

尔·奥利里(Michael O‘Leary)的挑衅性言论作为营销工具，因为他们认为没有宣传就是坏宣传。奥利里先生声明
的例子包括超重的人应该支付额外的费用，乘客使用飞机上的厕所应该付费。然后，在 2016 年 1 月，瑞安航空聘

请了第一位公关主管克里斯蒂安·萨莫伊洛维奇(Cristian Samoilovich)，他曾担任优步(Uber)欧洲公共政策经理，

负责处理与欧洲各国政府和机构的关系。
The AGB programme consisted of repositioning Ryanair as 'Low Fares. Made Simple*. It centred on
providing customers with more choice, an improved travel and digital experience, while maintaining
budget fares. The buy-in of Michael 0*Leary and the board, and staff, alongside a relatively flat
organisation structure and open culture, facilitated a fast and effective execution of the plan.AGB 的计
划包括将瑞安航空重新定位为“低票价。使之简单”。该计划的核心是为客户提供更多的选择、改善的旅行和数

字体验，同时维持廉价票价。Michael 0*Leary 和董事会以及员工的加入，以及相对扁平的组织结构和开放的文

化，促进了该计划的快速有效执行。
The most dramatic change was Ryanair's attitude to customers, asserting that 'it starts at the top：
listen to customers*. Ryanair still maintained its cost focus to continue to offer relatively lower fares
than competitors. Investment in capability was part of the changes, principally in digital and technology.
The company asserted that it wanted to become the leader in the industry on all things digital, and
created Ryanair Labs with a team of over 150 working on a new digital platform.最戏剧性的变化是瑞安航
空对客户的态度，他断言“从最高端做起：倾听客户的意见”。瑞安航空仍然坚持以成本为重点，继续提供比竞

争对手相对更低的票价。对性能的投资是变化的一部分，主要是在数字和技术方面。该公司声称，它希望成为所

有数字化事物的行业领先者，并创建了瑞安航空实验室，团队有 150 多人，正在开发一个新的数字平台。

Specifically the changes in the AGB consisted of：具体地说，AGB 的变化包括：

Improve the flying experience. Allowing customers to bring two bags on board and allocating seats.·改
善飞行体验。允许顾客携带两个行李登机和分配座位。

• Embrace digital. Launching a new, simpler website, a new Ryanair app, a customer registration
function called 'MyRyanair' so the airline could target and personalise its offers, communications
and digital platform, improving the selling of ancillary products like car hire and reserved seats.拥抱
数字。推出一个新的更简单的网站，一个新的瑞安航空应用程序，一个名为‘MyRyanair’的客户注册功能

，这样航空公司就可以针对并个性化其优惠、通信和数字平台，改善辅助产品的销售，如租车和预留座位。
• Broaden Ryanair's appeal. Segmenting products to meet the needs of different groups. Tamily
Extra1 was a new product focused on families and 'Business Plus, was aimed at business
customers. Groups and corporate service products were also launched.·扩大瑞安航空的吸引力。细分
产品，满足不同群体的需求。Tamely Extra1 是一款专注于家庭的新产品，“Business Plus”针对的是商业客

户。还推出了团体和企业服务产品。
• Improve the product. Changing its previous policy of concentrating on cheaper secondary airports,
primary airports were added to the network. These included Brussels National, Athens, Amsterdam
Schiphol, Milan Malpensa, Lisbon, Cologne, Hamburg and Glasgow International, alongside
statements of improved flight times and frequencies on the most popular routes. Ryanair claimed to
publish its schedules earlier than other airlines, meaning customers could plan and book flights
longer in advance.·改进产品。改变了以前专注于更便宜的二级机场的政策，主要机场加入了网络。这些航班
包括布鲁塞尔国家机场、雅典机场、阿姆斯特丹史基浦机场、米兰·马尔彭萨机场、里斯本机场、科隆机场、汉

堡机场和格拉斯哥国际机场，同时还发布了改善最受欢迎航线航班时间和频率的声明。瑞安航空声称比其他航
 空公司更早公布时刻表，这意味着客户可以提前更长时间计划和预订航班。

AGB phase 2 AGB 第 2 期

In March 2015, to celebrate its 30th anniversary, Ryanair unveiled the second phase of its AGB plan
with an eightpoint Customer Charter, emphasising its new image：2015 年 3 月，为了庆祝成立 30 周年，
瑞安航空公布了 AGB 计划的第二阶段，其中包含八点客户宪章，强调了其新形象：

• Always Getting Better is the way we promise to do things.

• We promise the lowest fares.
• We promise the best choice of destinations.
• We promise to always prioritise safety.
• We promise to strive to make your travel an enjoyable experience.
• We promise we will always be Europe's most reliable airline.
• We promise to be transparent and to make travel simple for you.
• We promise to innovate to make your travel exciting.

• ·永远变得更好是我们承诺的做事方式。

·我们承诺最低票价。

·我们承诺提供最佳目的地选择。

·我们承诺始终把安全放在首位。

·我们承诺努力让您的旅行变得愉快。

·我们承诺，我们将永远是欧洲最可靠的航空公司。

·我们承诺透明，让您的旅行变得简单。

·我们承诺创新，让您的旅行变得精彩。

Ryanair also announced a series of initiatives to be rolled out over the second year of the AGB
programme, with a range of improved services, fee reductions and exciting digital developments to be
introduced over the coming year. These included：瑞安航空还宣布了将在 AGB 计划的第二年推出的一系列
举措，明年将推出一系列改善服务、降低费用和令人兴奋的数字发展。这些措施包括：

• New aircraft interiors, new seats with more leg room and new cabin crew uniforms.
• Lower airport check-in fees, missed departure fees and a new flight cancellation option.
• Real-time airline fare comparisons on Ryanair.com.
• A new destination content service, featuring customer reviews.
• A personalised Ryanair.com website with up to 100 versions of the homepage and personalised
promotional emails with customer-specific tailored offers.
• A 24-hour *hold the fare* feature for €5.
• Improved in-flight menus with more healthy meal choices and a hot breakfast pre-order service on
key routes.
• Faster mobile apps, an improved Ryanair.com desktop and an enhanced 4My Ryanair1 customer
registration system.
• ·新的飞机内饰、腿部空间更大的新座椅和新的空乘制服。

·降低机场登机费、错过离境费和新的航班取消选项。
 ·瑞安航空(Ryanair.com)上的实时航空票价比较。

·新的目的地内容服务，以客户评论为特色。

·一个个性化的瑞安航空(Ryanair.com)网站，拥有多达 100 个版本的主页和个性化的促销电子邮件，提供针对

客户的定制优惠。

·5 欧元的 24 小时*保留票价*功能。

·改进了机上菜单，提供了更多健康的餐饮选择，并在关键航线提供热腾腾的早餐预订服务。

·更快的移动应用、改进的瑞安航空(Ryanair.com)桌面和增强的 4My 瑞安航空 1 客户注册系统。

However, as of December 2015, Ryanair retained its Skytrax 2 star rating, the worst for budget
airlines in Europe. It ranked 155 out of 160 companies on a corporate empathy index, which refers to
*being a company that relates in a human way to all its stakeholders, or emotional intelligence on a
corporate scale?3
然而，截至 2015 年 12 月，瑞安航空保留了 Skytrax 2 星评级，这是欧洲廉价航空公司中最差的。在公司同理心
指数中，它在 160 家公司中排名 155，这指的是*一家公司以人的方式与所有利益相关者建立联系，或者是公司规
模上的情商？
Overview of Ryanair 瑞安航空概述
Ryanair was founded in 1985 by the Ryan family to provide scheduled passenger services between
Ireland and the UK, as an alternative to then state monopoly airline, Aer Lingus. Initially, Ryanair was a
full service carrier, with two classes of seating, leasing three different types of aircraft. Despite growth in
passenger volumes, by the end of 1990, the company had disposed of five chief executives and
accumulated losses of IR£20 million. Its fight to survive in the early 1990s saw the airline transformed to
become Europe's first low-fares, no frills carrier, built on the model of Southwest Airlines, the
successful US operator. A new management team, led by Michael OTeary, was appointed. Ryanair
floated on the Dublin Stock Exchange in 1997 and is now quoted on the Dublin and London Stock
exchanges and on the NASDAQ-100.瑞安航空(Ryanair)由瑞安家族于 1985 年创立，提供爱尔兰和英国之间
的定期客运服务，作为当时国有垄断航空公司爱尔兰航空(Aer Lingus)的替代航空公司。最初，瑞安航空是一家

提供全方位服务的航空公司，有两个等级的座位，租赁三种不同类型的飞机。尽管客运量有所增长，但截至 1990

年底，该公司已处置了 5 名首席执行官，累计亏损 2000 万印度卢比。在 20 世纪 90 年代初的生存斗争中，该航

空公司转型为欧洲第一家效仿成功的美国运营商西南航空(Southwest Airlines)的廉价、朴实无华的航空公司。任

命了一个由迈克尔·奥蒂里(Michael OTeary)领导的新管理团队。瑞安航空于 1997 年在都柏林证券交易所上市，

目前在都柏林和伦敦证券交易所以及纳斯达克-100 指数(NASDAQ-100)上市。

After its makeover into a budget airline, Ryanair never looked back, as it added new bases, routes
and aircraft. Despite the up-and-down cycles of the airline industry over the decades, Ryanair
continued its upward trajectory, among the world's most profitable airlines, leaving almost all others
behind.在转型为廉价航空公司后，瑞安航空从未回头看过，因为它增加了新的基地、航线和飞机。尽管航空业
几十年来起伏不定，瑞安航空(Ryanair)仍在继续上升的轨道，跻身世界上最赚钱的航空公司之列，几乎把其他所

有航空公司甩在了后面。
At its 30th birthday, as of July 2015, Ryanair offered 1600-plus flights per day from 72 bases and 190
airports across Europe, with a fleet of 315 Boeing 737-800 aircraft and six additional leased aircraft to
provide extra capacity for the summer. Year-on-year traffic growth was 11 per cent from 81.7 million
passengers in 2014 to 90.6 in 2015, expected to be 105 million by 2016. Load factor had increased
from 83 per cent to 88 per cent.在其 30 岁生日时，截至 2015 年 7 月，瑞安航空每天提供来自欧洲各地 72 个
基地和 190 个机场的 1600 多个航班，机队有 315 架波音 737-800 飞机，另外还有 6 架租赁飞机，为夏季提供额

外的运力。客运量同比增长 11%，从 2014 年的 8170 万人次增长至 2015 年的 90.6 人次，预计到 2016 年将达

到 1.05 亿人次。载客率由百分之八十三增至百分之八十八。
After two profit warnings in 2013-14, net profits had recovered in its 2015 results, increasing by 66
per cent from €523m to €867m. Average fares increased by just one per cent from €46.40 to €47.05,
whilst operating revenue had increased by 12 per cent from €5036.7 to €5654. Thus, much of the profit
growth came from lower operating costs, especially a reduction of 11 per cent per passenger in fuel
costs. (Ryanair's financial data can be viewed in the Investor relations* section of the Ryanair website).
在 2013-14 年度两次发布盈利预警后，2015 年财报显示净利润有所回升，从 5.23 亿欧元增至 8.67 亿欧元，增幅

达 66%。平均票价仅增加 1%，从 46.4 欧元增至 47.05 欧元，营业收入从 5036.7 欧元增至 5，654 欧元，增幅

为 12%。因此，利润增长在很大程度上来自较低的运营成本，特别是每位乘客的燃料成本降低了 11%。(瑞安航

空的财务数据可在瑞安航空网站的投资者关系*部分查看)。

Investor perspectives and the Aer Lingus saga 投资者视角与爱尔兰航空传奇

As of December 2015, Ryanair shares were trading in the €14.60 to €15.08 range, with a P/E ratio of
13.5. The share price had risen steadily after plummeting to a low of €1.97 in October 2008, when
global equity markets tumbled. The most dramatic share price rise had occurred during the latter part of
2015 after stellar financial results, and expectations of even better to come.截至 2015 年 12 月，瑞安航
空股价在 14.60 欧元至 15.08 欧元区间交易，市盈率为 13.5 倍。该公司股价在 2008 年 10 月暴跌至 1.97 欧元的

低点后稳步上涨，当时全球股市暴跌。最戏剧性的股价上涨发生在 2015 年下半年，此前公布了出色的财务业绩，

并预期会出现更好的结果。
After its flotation in 1996, Ryanair's policy was not to pay dividends. It retained earnings to fund its
business operations, the acquisition of additional aircraft required for new markets, expansion of
existing services and routine fleet replacements. However, thanks to a healthy balance sheet, the
no-dividend policy changed in June 2010 when Ryanair began to pay a series of special dividends. It
had also engaged in various share buybacks. The company had thereby returned over €2.9bn to share-
holders over eight years, five times the €560m originally raised when Ryanair floated in 1997 and in two
subsequent secondary issues.瑞安航空 1996 年上市后的政策是不派发股息。它保留了收益，为其业务运营、
购买新市场所需的额外飞机、扩大现有服务和例行机队更换提供资金。然而，得益于健康的资产负债表，不派息

政策在 2010 年 6 月发生了变化，当时瑞安航空开始支付一系列特别股息。它还进行了各种股票回购。因此，该公

司在 8 年内向股东返还了超过 29 亿欧元的资金，是瑞安航空 1997 年上市时以及随后两次二级市场发行时最初筹

资 5.6 亿欧元的 5 倍。
The autumn of 2015 also saw the end of Ryanair's 29.8 per cent stake in Aer Lingus. The Aer Lingus
saga began in 2007 when, in a surprise bid, Ryanair acquired a 25.2 per cent stake, a week after the
flotation of the Irish national carrier. It subsequently increased its interest to 29.8 per cent, at a total
aggregate cost of €407.2m. By July 2009, the investment had been written down to €79.7m. At the time
of the initial bid, Ryanair declared its intention to retain the Aer Lingus brand and "upgrade their dated
long-haul product, and reduce their short-haul fares by 2.5 per cent per year for a minimum of 4 years .
. . one strong Irish airline group will be rewarding for consumers and will enable both to vigorously
compete with the mega carriers in Europe.42015 年 秋 季 ， 瑞 安 航 空 (Ryanair) 在 爱 尔 兰 航 空 (Aer
Lingus)29.8%的股份也结束了。爱尔兰国营航空公司爱尔兰航空(Aer Lingus)的故事始于 2007 年，当时瑞安航空

(Ryanair)出人意料地出价收购了该公司 25.2%的股份，当时这家爱尔兰国有航空公司上市一周后。随后，它将利

息提高到 29.8%，总成本为 4.072 亿欧元。到 2009 年 7 月，这笔投资已减记至 7970 万欧元。在最初出价时，瑞

安航空宣布它打算保留爱尔兰航空的品牌，并“升级他们过时的长途产品，在至少 4 年内每年降低 2.5%的短途票

价……一家强大的爱尔兰航空集团将为消费者带来回报，并使两家航空公司都能与欧洲的大型航空公司展开激烈

的竞争。
According to a Financial 7/'mescommentator, 'Ryanair's bid for Aer Lingus was a folie de grandeur'.5
Even Michael OTeary admitted it was *a stupid investment. At the time, it was the right strategy to go for
one combined airline but it has now proven to be a disaster/6 Aer Lingus rejected the Ryanair approach
and two subsequent bids in 2008 and 2012, notwithstanding blocking of its bids from the EU and the UK
Office of Fair Trade (OFT), and orders to divest its Aer Lingus stake.根据一位财经 7/“媒体评论员”的说
法，“瑞安航空对爱尔兰航空的竞购是一笔宏伟的投资”。5 就连迈克尔·奥蒂里也承认这是一笔愚蠢的投资。当

时，收购一家合并航空公司是正确的战略，但现在证明这是一场灾难/6 爱尔兰航空拒绝了瑞安航空的收购方案，

并在 2008 年和 2012 年拒绝了随后的两次竞标，尽管其竞标遭到欧盟和英国公平贸易办公室(OFT)的阻挠，并下

令出售其持有的爱尔兰航空股份。
After years of rejection from Aer Lingus shareholders and jousting with Irish, European and UK
competition authorities, the matter was finally resolved in July 2015. International Airlines Group (IAG)r
led by Willie Walsh, a former CEO of Aer Lingus, made a successful bid to buy Aer Lingus for €1.36bn,
having gained EU approval after some concessions to give up some London airport slots. The Irish
government had already agreed to sell its 25 per cent stake in Aer Lingus, and the Ryanair board then
agreed to dispose of its stake too. Ryanair had fully written down the value of its Aer Lingus stake.
Proceeds, totalling €398m, were distributed to shareholders via a 'B' share programme at the end of
2015, bringing the amount distributed to shareholders to over €3.3bn since 2010.经过多年来爱尔兰航空
股东的拒绝，以及与爱尔兰、欧洲和英国竞争主管部门的较量，此事最终在 2015 年 7 月得到解决。由爱尔兰航空

(Aer Lingus)前首席执行官威利·沃尔什(Willie Walsh)领导的国际航空集团(IAG)成功竞购爱尔兰航空(Aer Lingus)

，价格为 13.6 亿欧元。在做出一些让步，放弃部分伦敦机场机位后，国际航空集团(IAG)获得了欧盟的批准。爱

尔兰政府已同意出售其在爱尔兰航空所持 25%的股份，瑞安航空董事会随后也同意处置所持股份。瑞安航空已经

完全减记了其持有的爱尔兰航空股份的价值。2015 年底，总计 3.98 亿欧元的收益通过 B 股计划分配给股东，使

自 2010 年以来分配给股东的金额超过 33 亿欧元。

Ryanair's strategy 瑞安航空的战略
Ryanair designates itself as Europe's favourite airline, as the world's largest international carrier by
passengers. Before its conversion moment in 2013, Ryanair had stuck closely to the low-cost/low-fares
model. It differed in its application of the Southwest Airlines prototype business model, and that of its
main European rival, easyJet, as these two were not so frill-cutting. One observer described the
difference between easyJet and Ryanair as - 4easyJet is classy cheap, rather than just plain cheap1.7
瑞安航空(Ryanair)自称是欧洲最受欢迎的航空公司，也是世界上客运量最大的国际航空公司。在 2013 年转型之

前，瑞安航空一直紧密坚持低成本/低票价模式。它在应用西南航空公司(Southwest Airlines)的原型商业模式方

面与其主要欧洲竞争对手易捷航空(EasyJet)的应用有所不同，因为这两家公司并不是那么简陋。一位观察家将易

捷航空和瑞安航空的不同之处描述为-4easyJet 是经典的廉价飞机，而不仅仅是普通的便宜 1.7

In its 2015 annual report, Ryanair indicated various key aspects of its strategy.在 2015 年年报中，瑞
安航空指出了其战略的各个关键方面。
Fare and route policy 票价及路线政策
Ryanair's key selling point has been low fares designed to stimulate demand, particularly from
fare-conscious leisure and business travellers. Ryanair sells seats on a one-way basis. When
launching a new route, Ryanair's policy is to price the new route at its lowest fare so that it will be
significantly lower than other carriers* lowest fares, but still provide a satisfactory operating margin. 瑞
安航空的主要卖点是旨在刺激需求 的低票价，特别是来自注重票价的休闲和商务旅行者的需求。 瑞安航空

(Ryanair)以单程方式出售座位。当推出一条新航线时，瑞安航空的政策是以最低票价为新航线定价，这样它将明

显低于其他航空公司*最低票价，但仍能提供令人满意的运营利润率。
Consistent with the budget model, Ryanair*s routes are point-to-point only. In 2015 fiscal year,
Ryanair flew an average route length of 776 miles (1250 km) and average flight duration of 1.83 hours.
Short-haul routes eliminate the need to provide free in-flight meals and movies, expected on longer
flights, while point-to-point flying allows Ryanair to offer direct, non-stop routes and avoid the costs of
providing transfers for connecting passengers, including baggage transfer and transit passenger
assistance.与预算模式一致的是，瑞安航空的航线只是点对点的。2015 财年，瑞安航空的平均航线长度为 776
英里(1250 公里)，平均飞行时长为 1.83 小时。短途航线不需要提供免费的机上餐饮和电影，预计在长途航班上会

这样做，而点对点飞行允许瑞安航空提供直达、直达的航线，并避免为转机乘客提供转机的成本，包括行李转机

和过境乘客协助。
In response to an operating environment characterised by high fuel prices, typically lower seasonal
yields and higher airport charges and/or taxes, Ryanair has adopted a policy of grounding a portion of
its fleet during the winter months. In the winters of fiscal 2014 and fiscal 2015, Ryanair grounded
approximately 70 aircraft and 50 aircraft, respectively, but was planning to ground approximately only
40 aircraft during the winter 2015-16 season, due to lower fuel costs and higher anticipated demand.
为了应对以高油价、通常较低的季节性收益率以及较高的机场费用和/或税收为特点的运营环境，瑞安航空采取了

在冬季停飞部分机队的政策。在 2014 财年和 2015 财年的冬季，瑞安航空分别停飞了约 70 架飞机和 50 架飞机，

但由于燃料成本降低和预期需求增加，瑞安航空计划在 2015-16 冬季停飞约 40 架飞机。

Low operating costs 低运营成本

Low operating costs continues to be at the heart of Ryanair's strategy. There are various facets to the
implementation of this low-cost cornerstone.低运营成本仍然是瑞安航空战略的核心。实施这一低成本的基石
有很多方面。

Aircraft fleet 飞机机队

Ryanair has always grown and developed its fleet to meet expansion of its routes and to acquire the
most up-to- date fuel-efficient aircraft. In 2015, the principal fleet was composed of 315 Boeing 737-800
4next generation* aircraft, each having 189 seats. In 2019, when the Boeing 737-800 is scheduled to go

out of production, Ryanair will become the launch customer for the new Boeing 197-seat 737-MAX-200
aircraft, designed to replace the Boeing 737-800, and will purchase up to 200 of such aircraft. It expects
to have an operating fleet comprising approximately 520 Boeing 737s by 2024 comprising a mix of
Boeing 737-800s and Boeing 737-MAX-200 aircraft. In its 2015 annual report, Ryanair notes
satisfaction with the pricing and conditions of its aircraft purchases from Boeing.瑞安航空一直在增长和发
展其机队，以满足其航线的扩张，并获得最新的节能型飞机。2015 年，主要机队由 315 架波音 737-800 4Next
Generation*飞机组成，每架飞机有 189 个座位。2019 年，当波音 737-800 计划停产时，瑞安航空将成为新的波

音 197 座 737-MAX-200 飞机的发射客户，旨在取代波音 737-800，并将购买至多 200 架此类飞机。预计到 2024

年，该公司的运营机队将包括大约 520 架波音 737，其中包括波音 737-800 和波音 737-MAX-200 飞机的混合。

瑞安航空在 2015 年年报中指出，该公司对从波音购买飞机的价格和条件感到满意。

The purchase of aircraft from a single manufacturer enables Ryanair to limit the costs associated
with personnel training, maintenance and the acquisition and storage of spare parts while also affording
the company greater flexibility in the scheduling of crews and equipment.从一家制造商购买飞机使瑞安航
空能够限制与人员培训、维护以及备件采购和储存相关的成本，同时也为公司在安排机组人员和设备方面提供了
更大的灵活性。

Airport costs 机场费用

Up until 2013, Ryanair reduced airport charges by avoiding congested main airports, choosing
secondary and regional destinations, eager to increase passenger throughput. Ryanair further reduces
its airport charges by opting, when practicable, for less expensive gate locations and outdoor boarding
stairs, rather than jetways.直到 2013 年，瑞安航空通过避开拥堵的主要机场，选择次要和地区性目的地，急于
增加旅客吞吐量来降低机场费用。瑞安航空进一步降低了机场收费，在可行的情况下，选择了更便宜的登机口位

置和户外登机楼梯，而不是喷气式飞机。
Secondary and regional airports are significantly further from the centres of cities they serve than the
mam airports, 'trom nowhere to nowhere* in the words of Sir Stelios Haji-loannou, founder of easyJet,
Ryanair*s biggest competitor.8 For example, Ryanair uses Frankfurt Hahn, 123 km from Frankfurt,
Torp, 100 km from Oslo, and Charleroi, 60 km from Brussels. In December 2003, the Advertising
Standards Authority rebuked Ryanair, upholding a complaint of misleading advertising for attaching
'Lyon' to its advertisements for flights to St Etienne, 62 km from Lyon.瑞安航空最大的竞争对手易捷航空
(easyJet)的创始人斯泰利奥斯•哈伊-洛安努爵士(Sir Stelios Haji-loannou)表示，与机场相比，二级和地区性机

场距离它们服务的城市中心要远得多。例如，瑞安航空使用距离法兰克福 123 公里的法兰克福哈恩，距离奥斯陆

100 公里的托普，以及距离布鲁塞尔 60 公里的沙勒罗伊。2003 年 12 月，英国广告标准局(Advertising

Standards Authority)指责瑞安航空(Ryanair)在飞往距离里昂 62 公里的圣艾蒂安(St Etienne)的航班广告中加入

了“里昂”一词，误导消费者。
However, as part of its AGB programme, it added more primary airports to its route system. Ryanair
continued to denounce charges and conditions imposed by most governments at airports in the form of
air passenger duties. An example is its dispute with Athens Airport (AIA) over allegedly high charges
imposed for its installations and services. Ryanair blamed pricing policy rather than the Greek
economic crisis for a decline in traffic. Ryanair promised to bring ten million tourists to Greece within the
next three years should AIA reduce taxes and fees from current €12 per passenger down to €5 and
reduce to zero in other peripheral airports, an offer declined by the Greeks. Subsequently, the Greek
government withdrew plans for the tax.然而，作为 AGB 计划的一部分，它在航线系统中增加了更多的主要机
场。瑞安航空继续谴责大多数政府以征收航空乘客税的形式对机场提出的收费和条件。一个例子是它与雅典机场

(AIA)就其设施和服务据称收取的高额费用发生争执。瑞安航空将客流量下降归咎于价格政策，而非希腊经济危机

。瑞安航空(Ryanair)承诺，如果友邦保险(AIA)将税收和费用从目前的每位乘客 12 欧元降至 5 欧元，并将其他周

边机场的费用降至零，该公司将在未来三年内为希腊带来 1000 万名游客。希腊方面拒绝了这一提议。随后，希腊

政府取消了征税计划。
 In September 2013, Ryanair made a ten-year growth agreement with Manchester Airports Group,
the new owners of London Stansted, in relation to an expansion of capacity at Stansted in return for
significant airport charge reductions for the incremental passenger volumes delivered. In 2015, Ryanair
confirmed that it would bid for Gatwick slots which were to be sold as a condition of lAG's takeover of
Aer Lingus, to develop further its capacity at the London airport.2013 年 9 月，瑞安航空与伦敦斯坦斯特德
机场(London Stansted)的新东家曼彻斯特机场集团(Manchester Airports Group)达成了一项为期 10 年的增长

协议，内容涉及斯坦斯特德机场的运力扩张，以换取大幅降低机场收取的额外客运量费用。2015 年，瑞安航空

(Ryanair)证实，它将竞购盖特威克机场(Gatwick)的停机位，以进一步发展其在伦敦机场的运力。作为 lAG 收购

爱尔兰航空(Aer Lingus)的条件之一，这些停机位将被出售。

Staff costs and productivity 员工成本和生产力

By 2015, Ryanair's employee number at 9394 was up on 8992 in 2014, reflecting growth in traffic and
upgraded product. Staff costs increased 1.1 per cent from €9501m to €9586m. Ryanair refuses to
recognise trade unions and negotiates with employee representative committees (ERCs), regarding
pay, work practices and conditions of employment. Following negotiations through this ERC system,
pilots and cabin crew at all Ryanair bases are covered by long-term collective agreements. But, as
seen below, various aspects of Ryanair's industrial relations continue to attract controversy.截至 2015
年，瑞安航空的员工人数为 9394 人，高于 2014 年的 8992 人，反映出客运量和升级产品的增长。员工成本增加
了 1.1%，从 9.501 亿欧元增至 9.586 亿欧元。瑞安航空拒绝承认工会，并与员工代表委员会(ERC)就薪酬、工作
做法和雇佣条件进行谈判。通过这一 ERC 系统进行谈判后，瑞安航空所有基地的飞行员和空乘人员都受到长期集
体协议的保护。但是，如下所示，瑞安航空劳资关系的各个方面继续引发争议。
Ryanair's employees earn productivity-based incentive payments. These include bonus payments
for onboard sales of products by flight attendants and payments based on the number of hours or
sectors flown by pilots and flight attendants. By tailoring rosters, the carrier maximised productivity and
time off for crew members, whilst nonetheless complying with EU regulations which impose a ceiling on
pilot flying hours to prevent dangerous fatigue. Its passenger-per-employee ratio of approximately
9640 was the highest in the industry. Share option plans for employees (and directors) add to staff
remuneration
packages.瑞安航空的员工获得以生产率为基础的奖金。其中包括空乘人员在飞机上销售产品的奖金，以及基于飞行员和空乘人员飞
行时数或飞行扇区的奖金。通过定制花名册，航空公司最大化了机组人员的生产力和休假时间，同时也遵守了欧盟的规定，即对飞行员
的飞行时间设置上限，以防止危险的疲劳。该公司的乘客/员工比例约为9640，是业内最高的。员工(和董事)的股票期权计划增加了员
工的薪酬。
Generally, onboard crew have to pay for their initial training and uniforms. Ryanair has licensed
approved organisations in Dublin, Germany and the UK to operate pilot training courses, using
Ryanair4s syllabus, to grant Boeing 737 type-ratings. Based on their performance, trainee pilots may be
offered a position operating on Ryanair
aircraft.一般来说，船上的船员必须为他们最初的训练和制服付费。瑞安航空已授权位于都柏林、德国和英国的经批准的机构，使用R
yanair4s课程大纲来运行飞行员培训课程，以授予波音737的机型评级。根据他们的表现，实习飞行员可能会得到一个在瑞安航空飞
机上操作的职位。
Apart from employing its own staff at Dublin Airport, Ryanair outsources much of its services at other
airports for ticketing, passenger and aircraft handling, and activities that can be more cost-efficiently
provided by third parties. It claims that it obtains competitive rates for such services by negotiating
fixed-price, multiyear contracts. Apart 雇佣 自己 的 员工 Dublin Airport, Ryanair 外包 的 服务 在 其他 机场
ticketing, 乘客 和 飞机 handling, 和 activities 第三 parties. 提供 的 更 合算
的它声称，通过谈判固定价格、多年合同，它可以为这些服务获得有竞争力的价格。
Ryanair imposes the same labour conditions, such as no unions, and pay rates on its staff operating
abroad as it does in Ireland. This has led to some disagreements where it was accused of breaching
local labour laws. For instance, in October 2014, Ryanair lost an appeal against a ruling that it breached
French labour laws by employing 127 local staff on Irish contracts. It was fined €200,000 and €8.1m in
damages to trade unions, France's social security system and pilots among others.瑞安航空实行与在爱
尔兰相同的劳动条件，例如没有工会，并对在国外工作的员工支付工资率。这导致了一些分歧，该公司被指控违

反了当地劳动法。例如，2014 年 10 月，瑞安航空(Ryanair)在针对一项裁决的上诉中败诉，该裁决称，瑞安航空

以爱尔兰合同雇用 127 名当地员工，违反了法国劳动法。该公司被处以 20 万欧元和 810 万欧元的罚款，以赔偿

工会、法国社会保障体系和飞行员等方面的损失。

Having introduced a service to Copenhagen in the spring of 2015, Ryanair had come under attack
from trade unions in Denmark. They accused the carrier of violating workers* rights, and threatened to
go on strike after a ruling by the Danish Labour Court that Copenhagen airport staff had the right to
refuse to service its flights in the dispute. Moreover, the mayor of Copenhagen banned city employees
from using the airline because its low wages amounted to 'social dumping1； in general, Ryanair was
subjected to a campaign of abuse in Denmark by labour protagonists, especially in social media. This
included statements by Morten Windel0v, a Ryanair pilot from 2007-11, and now a leading voice in the
unions' campaign to the effect that 'Ryanair's style is management by fear . . . There is a widespread
disdain for employees, you are not treated with trust or respect as an individual/9 The dispute
culminated in Ryanair's exit from its two Danish bases in Copenhagen and Billund before the unions
could carry out their strike threat. The airline announced that a planned €360m investment in the
Copenhagen base will instead be spread throughout other European cities, and it would continue to fly
to the Danish capital but will not base any aircraft or crew there. Ryanair's reputation went steeply
downhill in Denmark during the course of the row； it was ranked last in YouGov surveys of corporate
reputation. However, customers were apparently indifferent, as a poll suggested more Danes would
choose Ryanair than before the
dispute.2015年春天，瑞安航空在哥本哈根推出了一项服务，却遭到了丹麦工会的抨击。他们指责这家航空公司侵犯了工人的权利，
并威胁要举行罢工。此前，丹麦劳工法院裁定，哥本哈根机场的工作人员有权拒绝为其航班提供服务。此外，哥本哈根市长禁止城市雇
员乘坐瑞安航空，因为该公司的低工资相当于“在社会上丢了饭碗”;总的来说，瑞安航空在丹麦遭到了工党领袖的辱骂，尤其是在社交媒
体上。这其中包括2007年至2011年担任瑞安航空飞行员的莫滕•温德洛夫(Morten
Windel0v)发表的声明，他现在是工会运动的领军人物，大意是说，瑞安航空的风格是通过恐惧来管理……人们普遍对雇员有一种蔑
视，你没有被当作一个独立的人来对待，也得不到信任和尊重。这场纠纷的高潮是瑞安航空公司在工会威胁进行罢工之前，从它在哥本
哈根和比隆的两个丹麦基地撤出。该航空公司宣布，对哥本哈根基地的3.6亿欧元投资计划将分散到欧洲其他城市，并将继续飞往丹麦首
都，但不会在那里部署任何飞机或机组人员。在此期间，瑞安航空在丹麦的声誉直线下降，在YouGov的企业声誉调查中排名最后。然
而，消费者显然对此漠不关心，因为一项民意调查显示，选择瑞安航空的丹麦人比争端之前更多。
Passenger service客运服务
The internet has been a source of cost savings for Ryanair in the passenger process. The development
of its own internet booking facility has allowed Ryanair to eliminate travel agent commissions, although,
as part of its improved service initiatives, the company has broadened its distribution base by making
its fares available online to a limited number of other websites for a nominal cost. Direct sales via the
Ryanair website and mobile app continue to be the prime generator of scheduled passenger
revenues.互联网一直是瑞安航空在客运过程中节省成本的一个来源。The 开发自己的网络预订设施允许Ryanair eliminate
旅行社commissions, although, 作为其改善服务的一部分initiatives, 公司扩大其分销基地通过其网上机票数量有限
的名义cost. 其他网站通过瑞安航空网站和移动应用的直接销售仍然是定期乘客收入的主要来源。
Ryanair pioneered cost-cutting/yield-enhancing measures for passenger check-in and luggage
handling. One was priority boarding and web-based check-in. Charging for check-in bags encouraged
passengers to travel with less or zero check-in luggage, thus saving costs and enhancing speed.
Before it charged for checked-in bags, 80 per cent of passengers travelled with checked-in luggage；
within two years, this had fallen to 30 per cent, and was less than 20 per cent in 2015. The airline met
harsh criticism of its meagre luggage allowances and ever-rising fees for checking in bags with strict
enforcement of limits on size and weight of carry-on luggage. Ryanair 开创cost-cutting/yield-enhancing
measures 乘客 办理 登机 手续 和 行李
handling.一个是优先登机和基于网络的登机。对托运行李收费鼓励乘客少带或不带托运行李，从而节约成本，提高速度。在对托运行
李收费之前，80%的乘客携带托运行李出行;两年内，这一比例降至30%，2015年不到20%。The 航空公司遇到了少量的行李
津贴的严厉批评和不断增加的费用检查与严格的限制enforcement 袋随身提行李的尺寸和重量
Passengers incurred penalties for exceeding the limits. As part of its AGB programme, it relaxed the
limits by allowing two pieces of carry-on luggage, but there are reports that this has created a shortage
of space in overhead lockers, with passengers forced to put their carry-on luggage in the hold.
乘客因超过限额而招致罚款。As 部分AGB programme, 它放松了限制, 允许两块随身luggage, 但有报道称, 这创造了
一个空间短缺overhead lockers, 乘客被迫hold. 把随身携带的行李
From October 2009, Ryanair adopted a 100 per cent web check-in policy, enabling a reduction in
staff numbers, calculated to save €50m per year, Hefty fees were incurred when passengers had not
checked in online. This was another heavily criticised aspect of Ryanair passenger service. It was
moderated as part of its new customer-friendly ethos, cutting its airport check-in fee, which applies to
anyone who has not checked in online beforehand from €70 per person per flight to €45. The cost of
checking in luggage at the airport (rather than online) has fallen from €60 to €30, its boarding card
re-issue fee has been cut from €70 to €15, and a 24-hour post-booking 'grace' period has been
introduced to correct minor errors or spelling mistakes, free of charge (after that it costs €110, or €160
at the airport).
从2009年10月开始，瑞安航空采取了100%网上登机的政策，从而减少了员工数量，每年可节省5000万欧元。如果乘客没有在网上
登记，就会产生巨额费用。这是瑞安航空乘客服务的另一个饱受批评的方面。作为对客户友好的新理念的一部分，该公司进行了调整，
将其机场签到费从每人每次航班70欧元降至45欧元。机场的行李的检查成本(而非在线)已从60€€30,其登机牌补发的费用已经从70
€€减少15日和24小时预订后“恩典”时期介绍了正确的小错误或拼写错误,免费(花费€110年后,在机场或€160)。

Ancillary revenues辅助收入
Ryanair provides various ancillary services, including in-flight beverage, food and merchandise,
console entertainment sales and internet-related services. It distributes airport transfers, car park
services, accommodation, travel insurance and car rentals through its website. Delivering these
services through the internet enables Ryanair to increase sales, while reducing unit costs. As part of its
website upgrade, the company declared it aimed to become the 4Amazon for travel' in Europe, with all
travel services currently being provided by intermediaries available on Ryanair.com. 瑞安航空提供各种
辅助服务，包括机上饮料、食品和商品、游戏机娱乐销售和互联网相关服务。它通过其网站分发机场接送、停车

场服务、住宿、旅行保险和汽车租赁。通过互联网提供这些服务使瑞安航空能够增加销售额，同时降低单位成本

。作为网站升级的一部分，该公司宣布其目标是成为欧洲旅游的 4Amazon，目前所有的旅游服务都由瑞安航空

(Ryanair.com)上的中介提供。
Over the years, ancillary revenue initiatives were constantly being introduced to raise extra revenue.
It was the first airline to charge for check-in luggage and in-flight food and beverages. Virtually all
budget airlines have followed suit, as they have with other Ryanair initiatives. It has continued to find
ways of charging passengers for services once considered inclusive. While the airline has now
changed its seating policy from open seating to allocated seats, an extra charge procures 'priority
boarding* purchased in advance for £10/€10 per flight, an initiative followed by many traditional
carriers, such as British Airways, charging passengers to book seats online for an extra charge.
Ryanair incentivises its ground staff to levy excess baggage charges.多年来，政府不断推出附属的税收措
施，以增加额外收入。它是第一家对登机行李和机上食品和饮料收费的航空公司。几乎所有的廉价航空公司都在

效仿，就像他们对瑞安航空的其他举措一样。它继续寻找向乘客收取曾经被认为是包容性的服务的方法。虽然该

航空公司现在已经将其座位政策从开放座位改为分配座位，但额外的费用会导致每个航班提前购买 10 英镑/10 欧

元的“优先登机”，许多传统航空公司，如英国航空公司(British Airways)都效仿了这一举措，向在线预订座位的

乘客收取额外费用。瑞安航空激励其地勤人员征收超重行李费。
In July 2015, Hertz ended its long-standing contract to market its car rental services through
Ryanair's website in a dispute over the airline's ticket selling arrangements using third-party agents.
Hertz is believed to have viewed it as a breach of the original contract which entailed only direct ticket
sales by Ryanair. Subsequently, in a change of strategy, Ryanair launched its own car hire website in a
new partnership with online car rental aggregator, CarTrawler. This arrangement would offer
customers a direct connection to over 1500 car rental agents in over 30,000 locations, across 174
different countries. 2015 年 7 月，赫兹终止了通过瑞安航空网站营销其租车服务的长期合同，原因是该航空公司
使用第三方代理的机票销售安排引发了争议。据信，赫兹认为这违反了最初的合同，该合同只涉及瑞安航空的直

接机票销售。随后，瑞安航空改变了策略，与在线租车聚合网站 CarTrawler 建立了新的合作伙伴关系，推出了自

己的租车网站。这一安排将为客户提供与 174 个不同国家和地区的 3 万多个地点的 1500 多家汽车租赁代理的直

接连接。
Ancillary services accounted for approximately 25 per cent of Ryanair's total operating revenues in
the 2015 and 2014 fiscal years, increasing 11.7 per cent, from €1247.2m in the 2014 fiscal year to
€1393.7m in the 2015 fiscal year. Ancillary revenues per booked passenger increased to €15.39 from
€15.27. This reflects an improved product mix and fully reserved seating across the network. Revenues
from non-flight scheduled operations, including excess baggage charges, administration/ credit card
fees, sales of rail and bus tickets, priority boarding, reserved seating, accommodation, travel insurance
and car rental increased 15 per cent to €1164.4m from €1012.4m in the 2014 fiscal year. Revenues
from in-flight sales increased 9.2 per cent to €128.1m from €117.3m in the 2014 fiscal year. However,
revenues from internet-related services, primarily commissions received from products sold on
Ryanair.com or linked websites, decreased 13.9 per cent, from €117.5m in the 2014 fiscal year to
€101.2m in the 2015 fiscal year.在 2015 和 2014 财年，辅助服务约占瑞安航空总运营收入的 25%，增长
11.7%，从 2014 财年的 1.2472 亿欧元增至 2015 财年的 1.3937 亿欧元。每位预订乘客的辅助收入从 15.27 欧元

增加到 15.39 欧元。这反映了改进的产品组合和整个网络的完全预订座位。包括超重行李费、行政/信用卡费用、

火车票和汽车票销售、优先登机、预留座位、住宿、旅行保险和租车在内的非航班定期业务收入增长 15%，从

2014 财年的 1.0124 亿欧元增至 1.1644 亿欧元。机上销售收入增长 9.2%，从 2014 财年的 1.173 亿欧元增至

1.281 亿欧元。然而，来自互联网相关服务的收入(主要是瑞安航空(Ryanair.com)或链接网站上销售产品的佣金)

下降了 13.9%，从 2014 财年的 1.175 亿欧元降至 2015 财年的 1.012 亿欧元。

Further growth and development 进一步壮大和发展

Having become the largest international airline in Europe with respect to passengers carried, Ryanair
continues its growth ambitions, declaring in its 2015 annual report that it intends to follow a growth path
consistent with the way it has expanded in the past. It intends to grow by offering low fares and fare
promotions, thereby achieving higher load factors. It will add additional routes and flight frequencies on
existing flights, as well as new bases in the EU, and in countries party to a European Common Aviation
Agreement with the EU on both international and domestic intra-country routes. It will seek opportuni-
ties to offer budget fares on routes currently served by mainstream and higher cost competitors, but
expects to open new routes, not currently served by any carriers.瑞安航空(Ryanair)已成为欧洲客运量最大
的国际航空公司，目前仍在继续其增长雄心，在 2015 年年报中宣布，它打算走一条与过去扩张方式一致的增长道

路。它打算通过提供低票价和票价促销来实现增长，从而实现更高的载客率。它将在现有航班上增加额外的航线

和飞行频率，以及在欧盟和与欧盟签订的欧洲共同航空协定(European Common Aviation Agreement)缔约国

的国际和国内航线上增加新的基地。该公司将寻求机会，在目前由主流和成本更高的竞争对手提供的航线上提供

廉价票价，但预计将开设新航线，目前没有任何航空公司提供服务。
While it has mentioned plans to connect airports within its existing route network, it does not mention
anything about offering connection services to passengers, such as luggage transfers. Ryanair was in
talks with Norwegian Air Shuttle and PortugaKs TAP to provide transfer connections on long-haul
flights. Similar talks with Aer Lingus and Virgin Atlantic had broken down, since Ryanair did not want to
be responsible for missed connections or delays. In March 2015, Michael O*Leary retracted a
statement issued two days* earlier, announcing board approval to launch a transatlantic airline. Indeed,
the company had talked for years about starting transatlantic services, offering one-way fares for as
little as £10. However, O'Leary admitted that the logistics were not possible, as the plan was dependent
on procuring long- haul, fuel-efficient, wide-bodied jets, which could take many years to obtain, as
aircraft manufacturers had backed up orders from existing long-haul carriers developing their routes.
虽然它提到了在现有航线网络内连接机场的计划，但没有提到向乘客提供转机服务，如行李转运。瑞安航空正在

与挪威航天飞机公司和葡萄牙航空公司进行谈判，以提供长途航班的转机连接。与爱尔兰航空(Aer Lingus)和维

珍航空(Virgin Atlantic)的类似谈判已经破裂，因为瑞安航空不想对错过航班或延误负责。2015 年 3 月，迈克尔·

奥利里(Michael O*Leary)收回了两天前发表的一份声明，宣布董事会批准成立一家跨大西洋航空公司。事实上，

该公司多年来一直在讨论启动跨大西洋服务，提供低至 10 GB 的单程票价。然而，奥利里承认，物流是不可能的

，因为该计划依赖于采购长途、省油的宽体喷气式飞机，这可能需要很多年的时间，因为飞机制造商已经备份了

现有长途航空公司开发其航线的订单。
In the past, Ryanair has grown organically, with one exception, its acquisition in 2003 of Buzz, a
budget airline subsidiary of KLM, the Dutch flag carrier, with headquarters at Stansted, for a bargain
£15m. Buzz's operations were quickly absorbed into those of Ryanair. Of course, Ryanair had been
trying for eight years to acquire Aer Lingus until the matter was concluded when it conceded in 2015.
Nonetheless, it is open to acquisition opportunities. These can arise by sweeping up competitors,
although, in the past, Ryanair has been more inclined to eliminate competitors through open
competition rather than by acquiring them 过去，瑞安航空一直是有机增长的，除了 2003 年以 1500 万英镑
的低价收购了荷兰旗舰航空公司荷兰皇家航空(KLM)旗下廉价航空子公司 Buzz，总部设在斯坦斯特德(Stansted)

。巴斯的业务很快就并入了瑞安航空的业务。当然，瑞安航空八年来一直试图收购爱尔兰航空，直到 2015 年这件

事结束，瑞安航空承认了这一点。尽管如此，它对收购机会持开放态度。尽管瑞安航空过去更倾向于通过公开竞

争而不是收购竞争对手来淘汰竞争对手，但这些问题可能是通过横扫竞争对手而出现的，尽管瑞安航空过去更倾

向于通过公开竞争而不是收购竞争对手来消除竞争对手。

Safety and maintenance安全与维护

Ryanair has always been conscious of safety as a critical factor, and that any safety-related harmful
incidents on Ryanair or other budget carrier could adversely affect its business. It places resources into
safety training of its staff and maintenance of its equipment and a board-level safety committee
constantly reviews safety issues.瑞安航空一直意识到安全是一个关键因素，瑞安航空或其他廉价航空公司发
生的任何与安全相关的有害事件都可能对其业务产生不利影响。它将资源投入到员工的安全培训和设备的维护上
，并成立了一个董事会级别的安全委员会，不断审查安全问题。
Ryanair carries out routine maintenance of its Boeing fleet, but contracts out overhaul engine and
component services to third parties. The commonality of the fleet helps to keep down maintenance
costs.瑞安航空对其波音机队进行例行维护，但将大修发动机和零部件服务外包给第三方。机队的通用性有助于
降低维护成本。

Ryanair's competitive space 瑞安航空的竞争空间

Europe has a total of 168 carriers； low-cost carriers (LCCs) or budget airlines make up 45 per cent of
the capacity share. The industry in Europe is fragmented, as consolidation has slowed down, forcing
each airline to devise its own unique strategy. Airlines compete primarily in respect of fare levels,
frequency and dependability of service, name recognition, passenger amenities (such as access to
frequent flyer programs), and the availability and convenience of other passenger services. The
industry is highly susceptible to price discounting, because airlines incur very low marginal costs for
providing service to passengers occupying otherwise unsold seats.欧洲共有 168 家航空公司；廉价航空公
司(LCC)或廉价航空公司占运力份额的 45%。欧洲的航空业是支离破碎的，因为整合速度已经放缓，迫使每家航

空公司制定自己的独特战略。航空公司主要在票价水平、服务频率和可靠性、知名度、乘客便利设施(如获得常客

计划)以及其他乘客服务的可用性和便利性方面进行竞争。该行业很容易受到价格折扣的影响，因为航空公司为占

据其他未售出座位的乘客提供服务的边际成本非常低。
Contributing to competition in 2015 was growth in short-haul capacity accelerating to 7.7 per cent in
the fourth quarter. This growth was led by LCCs, especially Ryanair, contributing 20 per cent However,
the 2015 growth was also a product of buoyant demand.2015 年的竞争因素之一是短途运力的增长在第四
季度加速至 7.7%。这一增长是由 LCC 引领的，尤其是瑞安航空(Ryanair)，贡献了 20%。然而，2015 年的增长也

是需求旺盛的产物。

The CAPA Centre for Aviation has divided European airlines into five models：CAPA 航空中心将欧洲
航空公司分为五种型号：

• Major network carriers. This model comprises the major legacy groups, such as Air France-KLMr
IAGF Lufthansa.
• Niche full-service carriers. These are airlines from smaller countries, with less developed networks,
and lower costs, such as Air Berlin.
• Pan European LCCs. Exemplified by easyJet, Vueling, Norwegian, these airlines are not pure LCCs
as they offer some 'frills'.
• Ultra LCCs. Also pan-Europeant this group is led by Ryanair as following the pure low-cost model.
Other examples are Wizz Air and Pegasus.
• Leisure LCCs. These airlines are smaller scale, operate mainly out of one country, concentrating on
leisure travel with longer distance routes to tourist destinations. Transavia, Monarch and Jet2.com
are examples.
• ·主要网络运营商。这一模式由主要的遗产集团组成，如法航-KLMR IAGF 汉莎航空公司。

·利基全服务航空公司。这些航空公司来自较小的国家，网络不太发达，成本也较低，比如柏林航空。

·泛欧 LCC。以易捷航空(EasyJet)、武灵航空(Vuling)、挪威航空(挪威)为例，这些航空公司并不是纯粹的 LCC

，因为它们提供一些“装饰品”。

·超 LCC。此外，这个泛欧洲航空集团由瑞安航空(Ryanair)领导，遵循纯粹的低成本模式。其他的例子还有
 Wizz Air 和 Pegasus。

·休闲 LCC。这些航空公司规模较小，主要在一个国家运营，专注于到旅游目的地的较长距离航线的休闲旅行。

Transavia、Monarch 和 Jet2.com 就是例子。

The differences between the features and cost base of LCCs and legacy airlines have narrowed.
Furthermore, the distinction between the various business models for short distances is increasingly
irrelevant as traditional flag carriers' short-haul operations now compete head to head with the LCCs*
point-to-point services. LCC 和传统航空公司的功能和成本基础之间的差异已经缩小。此外，随着传统旗舰航
空公司的短途业务现在与 LCC*点对点服务正面竞争，各种短距离业务模式之间的区别越来越无关紧要。
The operating margins of European LCCs, especially ultra-LCCs, in 2014 compared favourably to
those of full-service carriers. Five of the top six and all of the top three by operating margin are LCCs.
CAPA also points out that for Europe's major network airlines, successful LCC subsidiaries are rare
and require a distinct culture. Creating new lower cost platforms can cannibalise the mainline brand
and present significant industrial relations challenges in realising LCC cost savings. Ryanair was the
most profitable listed European airline in 2014 ranked by operating margin. The least profitable was Air
Berlin. Wizz Air managed its unit cost down further while raising its unit revenues. easyJet continued to
take advantage of its network of primary airports and its lead over other LCCs in terms of initiatives
towards business travelers and customer service. However, some LCCs recorded falling margins in
2014, among them Vueling and Pegasus, and two were even loss-making, Norwegian and Transavia.
2014 年，欧洲 LCC 的运营利润率，特别是超 LCC，与全服务航空公司的运营利润率相比是有利的。按营业利润率

计算，前六名中有五家和前三名都是 LCC。CAPA 还指出，对于欧洲主要的网络航空公司来说，成功的 LCC 子公

司很少见，需要独特的文化。创建新的低成本平台可能会蚕食主线品牌，并在实现 LCC 成本节约方面带来重大的

劳资关系挑战。瑞安航空(Ryanair)是 2014 年运营利润率排名最高的欧洲上市航空公司。利润最低的是柏林航空

。Wizz Air 在提高单位收入的同时，进一步降低了单位成本。易捷航空继续利用其主要机场网络，并在面向商务

旅客和客户服务方面领先于其他 LCC。然而，一些 LCC 在 2014 年的利润率有所下降，其中包括武灵和飞马，还

有两家甚至处于亏损状态，挪威和 Transavia。

Risks and challenges 风险和挑战

Although the company had been enjoying success in the 2014-15 period, it was conscious that it had to
be equally vigilant about risks to sustain its exemplary record. Some of the challenges faced by Ryanair
were specific to itself and some were general to the aviation industry or the budget sector.尽管该公司在
2014-15 年度取得了成功，但它意识到，为了保持其堪称典范的记录，它必须同样对风险保持警惕。瑞安航空面

临的一些挑战是针对自己的，而另一些则是针对航空业或预算部门的。

Fuel costs 燃料成本

Given that fuel constitutes a key input cost, wide fluctuations in the price and availability of this
commodity are a concern, since these are subject to factors beyond Ryanair's control. In these volatile
circumstances, hedging is the only answer. Historically, Ryanair has entered into arrangements to
provide for substantial protection against fluctuations in fuel prices, generally through forward contracts
covering periods of up to 18 months of anticipated jet fuel requirements. Because oil prices could
change suddenly downward, hedging could end up being costly if the price had been set before an
unexpected drop. As of fiscal 2015, Ryanair was hedged at prices below contemporary spot prices. On
20 January 2016, crude oil prices fell to levels 76 per cent below the previous year's peak, down to just
over $27 a barrel from $115. Ryanair's declaration of 4no fuel surcharges ever* and its reliance on low
fares limit its capacity to pass on increased fuel costs, especially in the face of its planned expansion.
鉴于燃料是一项关键的投入成本，这种商品的价格和可获得性的大幅波动是一个令人担忧的问题，因为这些都受
到瑞安航空无法控制的因素的影响。在这种动荡的情况下，对冲是唯一的答案。从历史上看，瑞安航空已经作出
安排，提供针对燃油价格波动的实质性保护，通常是通过远期合同，期限长达 18 个月的预期喷气燃料需求。由于
油价可能突然向下变动，如果价格是在意外下跌之前设定的，对冲可能最终会代价高昂。截至 2015 财年，瑞安航
空以低于当代现货价格的价格进行了对冲。2016 年 1 月 20 日，原油价格跌至比前一年峰值低 76%的水平，从每
桶 115 美元降至略高于 27 美元。瑞安航空宣布永远不收取燃油附加费，以及对低票价的依赖限制了其转嫁增加的
燃油成本的能力，特别是在计划扩张的情况下。

Risks associated with the euro 与欧元相关的风险

Headquartered in Ireland, Ryanair's reporting currency is the euro. With its extensive route system
within eurozone countries, the company and the value of its euro- the euro. With its extensive route
system within eurozone countries, the company and the value of its eurodenominated assets would be
adversely affected by a breakup of the euro or the exit of one or more members from it. Operating
inputs purchased abroad in non-euro currencies could become more expensive, further undermining
profitability. With so much of Ryanair's business conducted in the UK, the collapse of the euro against
sterling could be especially difficult Moreover, as international prices for jet fuel are denominated in US
dollars, Ryanair's fuel costs are also subject to exchange rate risks, exacerbated by a continuing fall in
the value of the euro against the dollar, from a 2008 high of just under $1.60 to $L08 in 2015. 瑞安航空
总部设在爱尔兰，其报告货币为欧元。凭借其在欧元区国家内广泛的航线系统，该公司及其欧元-欧元的价值。由
于其在欧元区国家内拥有广泛的路线系统，该公司及其欧元计价资产的价值将受到欧元解体或一个或多个成员国
退出欧元区的不利影响。以非欧元货币在海外购买的运营投入可能会变得更加昂贵，进一步削弱盈利能力。由于
瑞安航空的大部分业务都是在英国开展的，欧元兑英镑的崩溃可能尤其困难。此外，由于国际航空燃油价格以美
元计价，瑞安航空的燃料成本也受到汇率风险的影响，欧元兑美元汇率从 2008 年略低于 1.60 美元的高点持续下
跌至 2015 年的 L08 美元，加剧了汇率风险。

Recent strategic initiatives - the jury is still out? 最近的战略举措-还没有定论？

The actions taken as part of Ryanair's improved customer services and AGB campaign were intended
to increase passenger traffic, load factor and yields. There are additional costs associated with the
initiatives, such as primary airport fees and marketing expenses, simultaneously reducing ancillary
revenues previously earned from various penalty fees and charges. Although the revenues from
allocated seating and premiums from its BusinessPlus passengers should offset the reduction in
ancillary revenues, there can be no assurance that this will occur. Ryanair recognises that factors
beyond its control, such as customer acceptance, competitive reactions and market and economic
conditions could derail the potential benefits of its AGB strategy. Initial reactions to Ryanair's
'business-lite' product from corporate travellers was sceptical, as they compared it unfavourably to
mainstream carriers, such as BA's business class product, especially as it does not include incentives
such as loyalty programmes. Others saw Ryanair's combination of airports in its network and
competitive pricing as potentially attractive for small businesses, as fares were pitched to be
considerably cheaper than other carriers* business class flexi-fares, but more than its own standard
fares.作为瑞安航空改善客户服务和 AGB 活动的一部分，采取的行动旨在增加客运量、载客率和收益。与这些举
措相关的额外成本，如主要机场费用和营销费用，同时减少了以前从各种惩罚性费用和收费中赚取的辅助收入。
虽然分配座位的收入和 BusinessPlus 乘客的保费应该会抵消辅助收入的减少，但不能保证这种情况会发生。瑞安
航空认识到，其无法控制的因素，如客户接受程度、竞争反应以及市场和经济状况，可能会破坏其 AGB 战略的潜
在好处。商务旅行者最初对瑞安航空的“商务舱”产品持怀疑态度，因为他们将其比作主流航空公司，比如英国
航空的商务舱产品，特别是因为它不包括忠诚度计划等激励措施。其他人认为，瑞安航空将其网络中的机场与具
有竞争力的定价相结合，对小企业具有潜在的吸引力，因为票价被定位为比其他航空公司便宜得多*商务舱弹性票
价，但高于自己的标准票价。
It was also a matter of balancing still attractive fares with more costly service inputs. Historically, the
success of Ryanair's business model depended on its ability to control costs to deliver lower fares than
competitors while still earning a profit. Operating in an increasingly competitive marketplace, with a
number of low-fare, traditional and charter airlines competing throughout its route network, places
some pressure on Ryanair's ability to raise fares significantly.这也是一个平衡仍然有吸引力的票价和更昂贵
的服务投入的问题。从历史上看，瑞安航空商业模式的成功依赖于其控制成本的能力，以提供比竞争对手更低的
票价，同时仍能赚取利润。在竞争日益激烈的市场中运营，许多低票价、传统航空公司和包机航空公司在其航线
网络中展开竞争，这给瑞安航空大幅提高票价的能力带来了一些压力。

Adapting to seasonality 适应季节性

Ryanair*s growth has been largely dependent on increasing summer capacity, and decreasing winter
capacity. The policy of seasonally grounding aircraft presents some risks. While reducing variable
operating capacity. The policy of seasonally grounding aircraft presents some risks. While reducing
variable operating costs, it does not avoid fixed costs such as aircraft ownership costs, and it decreases
Ryanair's potential to earn ancillary revenues. Decreasing the number and frequency of flights may
also negatively affect Ryanair's labour relations, including its ability to attract flight personnel interested
in year-round employment. 瑞安航空的增长在很大程度上依赖于夏季运力的增加和冬季运力的减少。飞机季节
性停飞的政策存在一些风险。同时减少可变的操作能力。飞机季节性停飞的政策存在一些风险。虽然降低了可变
运营成本，但它并没有避免飞机所有权成本等固定成本，而且它降低了瑞安航空获得辅助收入的潜力。航班数量
和频率的减少也可能对瑞安航空的劳资关系产生负面影响，包括吸引对常年就业感兴趣的飞行人员的能力。

Various legal proceedings 各种法律程序

Ryanair has been in litigation with the Ell for over a decade about alleged receipt of state aid at certain
airports. Although an EU ruling in 2004 that it had received illegal state aid from publicly owned
Charleroi Airport was subsequently overturned on appeal, the EU launched further investigations into
allegations of illegal aid, purportedly subsidising Ryanair at as many as 20-plus publicly owned airports,
such as Paris Beauvais, Lubeck and Frankfurt Hahn in Germany. Competitors launched other legal
challenges against the company. Ryanair has won some of these cases and lost some others, but
many remain unresolved, as the losing party always appeals the decision to the EU General Court, a
process that takes some years. 瑞安航空十多年来一直在与 ELL 就涉嫌在某些机场接受国家援助一事提起诉讼
。尽管欧盟在 2004 年做出的一项裁决，即它从公有的查勒罗伊机场(Charleroi Airport)接受了非法的国家援助，
这一裁决随后在上诉中被推翻，但欧盟对非法援助的指控展开了进一步调查，据称在多达 20 多个公有机场(如德
国的巴黎博韦(Paris Beauvais)、吕贝克(Lubeck)和法兰克福哈恩(Frankfurt Hahn))向瑞安航空(Ryanair)提供补
贴。竞争对手对该公司发起了其他法律挑战。瑞安航空已经赢得了其中一些案件，也输掉了一些案件，但许多案
件仍未解决，因为败诉的一方总是向欧盟总法院(European General Court)上诉，这一过程需要几年时间。
Frequently, Ryanair took the initiative on alleged illegal aid to rivals. It filed a complaint with the EU
Commission accusing Air France-KLM of attempting to
block competition after the French airline filed a case, alleging that Marseille was acting illegally by
offering discount airlines cut-price fees at its second, no-frills terminal. Ryanair also called on the
Commission to investigate allegations that Air France had received almost €lbn in illegal state aid,
benefiting unfairly from up to 50 per cent discounted landing and passenger charges on flights within
France. Adverse rulings on these airport cases would not have major costs in fines, but they could
curtail Ryanair's growth if it was prevented from making advantageous deals with publicly-owned
airports and was confined to the fewer privately-owned airports across Europe. It could also encourage
more rivals to bring actions against Ryanair. 瑞安航空经常在涉嫌非法援助竞争对手的问题上采取主动。该
公司向欧盟委员会(European Commission)提起申诉，指控法航-荷航(Air France-KLM)在提起诉讼后试图阻止

竞争，指控马赛在其第二个朴实无华的航站楼向折扣航空公司提供降价费用，这是非法行为。瑞安航空还呼吁欧

盟委员会调查有关法航获得近欧元 LBN 非法国家援助的指控，这些援助不公平地受益于法国境内航班高达 50%的

降落费和客运费折扣。对这些机场案件的不利裁决不会带来重大罚款成本，但如果瑞安航空被阻止与公有机场达

成有利交易，并仅限于欧洲较少的私人所有机场，这些裁决可能会抑制瑞安航空的增长。这也可能鼓励更多的竞

争对手对瑞安航空采取行动。
Three airport authorities were suing Ryanair over alleged delays in paying airport charges. After it
called for an Irish presiding judge to withdraw on grounds of bias against Ryanair in previous
proceedings, the judge did withdraw, though not because he admitted Ryanair's charges but to avoid
delay in the case. He stood by his previous comments that 'Ryanair told untruths to and about the court
and . . . that the airline and the truth made uncomfortable bedfellows*.10 三家机场当局正在起诉瑞安航空
(Ryanair)，指控其延误支付机场费用。在之前的诉讼中，法院以对瑞安航空的偏见为由要求一名爱尔兰主审法官

撤回诉讼后，法官确实撤回了诉讼，尽管这并不是因为他承认了瑞安航空的指控，而是为了避免案件的拖延。他

坚持自己以前的评论，即“瑞安航空向法庭和关于法庭的事情说了不实的话，而且……说航空公司和真相让人不

舒服*.10.
Ryanair has vigorously opposed different continental European governments, attempts to move its
staff from British or Irish employment contracts to more expensive national ones on the basis that they
were protecting their own flag carriers. Ryanair accused the French government of using these
contracts to protect Air France-KLM, as it continues to fight a €9m sanction imposed by a French court
for breaking local labour laws. As shown above, in the Denmark case, Ryanair was ready to abandon
its bases rather than succumb. 瑞安航空强烈反对不同的欧洲大陆政府，试图将其员工从英国或爱尔兰的雇佣
合同转移到更昂贵的国家合同，理由是他们是在保护自己的旗舰航空公司。瑞安航空指责法国政府利用这些合同

来保护法航-荷航(Air France-KLM)，目前该公司仍在与法国一家法院因违反当地劳动法而实施的 900 万欧元制裁

作斗争。如上所述，在丹麦的案例中，瑞安航空准备放弃基地，而不是屈服。
On another legal front, in the UK, Spain and Italy, Ryanair launched a legal claim against Google and
online travel agent eDreams, which it accused of hosting a misleading subdomain with Ryanair
branding, selling Ryanair tickets at higher prices than its own. It had already won a similar case in
Germany. eDreams responded by denying any wrongdoing, but it did change its website, though not
sufficiently to fully satisfy Ryanair. 在另一个法律领域，在英国、西班牙和意大利，瑞安航空对谷歌和在线旅
行社 eDreams 提起法律诉讼，指控后者以瑞安航空的品牌托管一个误导性的子域名，以高于自己的价格出售瑞安

航空的机票。它已经在德国赢得了一场类似的官司。eDreams 的回应是否认有任何不当行为，但它确实改变了网

站，尽管还不足以让瑞安航空完全满意。

Page 20 of 11
Unforeseen events and passenger compensation 意外事件与乘客赔偿
In the airline industry, there is always the possibility that accidents and catastrophic events may occur,
due to natural or man-made causes. Among these are accidents and safety-related incidents, terrorist
highjackings, outbreaks of contagious disease epidemics like swine flu, weather and natural
phenomena that interfere with flights, such as the 2010 closure of a significant portion of the airspace
over northern Europe caused by safety concerns from ash cloud emissions of an Icelandic volcano.在
航空业中，由于自然或人为原因，总是存在发生事故和灾难性事件的可能性。其中包括事故和与安全相关的事件

，恐怖分子劫持事件，猪流感等传染性疾病流行病的爆发，天气和干扰航班的自然现象，例如 2010 年，由于冰岛

火山火山灰云排放的安全担忧，北欧上空的很大一部分空域关闭。

Such disturbances can entail rescheduling passengers, and disputes about compensation, since,
according to EL) law, passengers denied boarding or delayed for more than three hours are entitled to
compensation from the airline. Only circumstances outside the airlines, control exempt it from such
compensation, but Ryanair claims that the extraordinary circumstances defence has been very
narrowly interpreted by the EU. Ryanair usually resists paying compensation, mindful that large-scale
compensation payments are especially harmful to airlines with low fares. Ryanair was appealing a
court decision in the UK that ruled that airlines could not enforce a two-year limit in its terms and
conditions on passengers claiming flight delay compensation and claims could be made for up to six
years. This could have implications for retrospective claims of £610m according to the law firm
representing claimants, but in Ryanair*s view, the sum would be up to £5m. 这类骚乱可能会导致乘客改
期，以及赔偿纠纷，因为根据 El)法律，拒绝登机或延误超过三个小时的乘客有权从航空公司获得赔偿。只有在航

空公司以外的情况下，控制权才能免除它的此类赔偿，但瑞安航空声称，欧盟对非常情况的抗辩解释非常狭隘。

瑞安航空通常拒绝支付赔偿，因为考虑到大规模赔偿对低票价航空公司尤其有害。瑞安航空(Ryanair)正在对英国

的一项法院裁决提起上诉，该裁决裁定，航空公司不能在条款和条件中对要求航班延误赔偿的乘客强制执行两年

的限制，索赔最长可达 6 年。根据代表索赔人的律师事务所的说法，这可能会对 6.1 亿英镑的追溯性索赔产生影响

，但在瑞安航空看来，这笔金额将高达 500 万英镑。

In August 2012, Ryanair faced an investigation by the Spanish Ministry of Public Works following
emergency landings of three Ryanair aircraft at Valencia Airport after the airplanes had run out of fuel.
The aircraft had been diverted to Valencia when they were prevented from landing at Madrid, due to an
electrical storm. The Ryanair flights, with others, were put in a holding pattern, but only the Ryanair
flights had to instigate emergency procedures because they were running low on fuel. This incident
raised questions about Ryanair's fuel policy - to take on the minimum possible to save money.
However, Ryanair insisted that fuel levels never fell below the permitted minima during the Valencia
incidents, and that all of the company's aircraft operate with required fuel levels. If irregularities were to
be found at Ryanair, it could face the loss of its operating licence for three years, with additional fines of
up to €4.5m. Further, the following year, a group of pilots, deemed to be the Ryanair Pilots Group,
raised safety concerns about the airline. However, Ryanair claimed that the group did not include
Ryanair pilots, and was a PR front for pilot unions of their competitor airlines, including KLM, Air France
and Aer Lingus. 2012 年 8 月，瑞安航空面临西班牙公共工程部的调查，原因是三架瑞安航空飞机在燃料耗尽后
紧急降落在巴伦西亚机场。由于一场雷暴，飞机在马德里被阻止降落时，已改道前往巴伦西亚。瑞安航空的航班

和其他航班被置于等待模式，但只有瑞安航空的航班不得不启动紧急程序，因为它们的燃料即将耗尽。这一事件

引发了人们对瑞安航空燃料政策的质疑-为了省钱，尽可能采取最低限度的燃油政策。然而，瑞安航空坚称，在巴

伦西亚事件期间，燃油水平从未低于允许的最低水平，该公司的所有飞机都以所需的燃油水平运行。如果瑞安航

Page 21 of 11
空发现违规行为，它可能会面临三年的运营执照被吊销，以及高达 450 万欧元的额外罚款。此外，第二年，一群

被认为是瑞安航空飞行员集团(Ryanair Pilots Group)的飞行员提出了对该航空公司的安全担忧。然而，瑞安航空

声称，该组织不包括瑞安航空的飞行员，是其竞争对手航空公司(包括荷兰皇家航空(KLM)、法国航空(Air France)

和爱尔兰航空(Aer Lingus)等航空公司飞行员工会的公关幌子。
Ryanair maintains various insurances： aviation third- party liability, passenger liability, employer
liability, directors and officers' liability, aircraft loss or damage, and other business insurance,
consistent with industry standards. Ryanair believes its insurance coverage is adequate, although not
comprehensive. This insurance does not cover claims for losses incurred when, due to unforeseen
events, airspace is closed and aircraft are grounded, such as the closures associated with the ash
cloud. It is almost impossible to insure against what may be unlimited liabilities. For instance, EU
legislation provides for unlimited liability of an air carrier in the event of death or injuries suffered by
passengers. 瑞安航空维持各种保险：航空第三方责任、乘客责任、雇主责任、董事和高级管理人员责任、飞机
灭失或损坏，以及其他业务保险，符合行业标准。瑞安航空认为其保险覆盖范围足够，尽管不全面。这项保险不

包括因不可预见的事件导致空域关闭和飞机停飞(例如与火山灰云相关的关闭)时发生的损失索赔。为可能无限的

责任投保几乎是不可能的。例如，欧盟立法规定，航空承运人在乘客伤亡时承担无限责任。

Labour relations 劳资关系

Ryanair has been criticised for refusing union recognition and allegedly providing poor working
conditions. The British Airline Pilots Association (BALPA) tried to organise Ryanair pilots in the UK,
maintaining the right to ballot Ryanair pilots to join the union. In July 2006, the Irish High Court ruled
that Ryanair had bullied pilots to accept new contracts, where pilots would have to pay €15,000 for
re-training on new aircraft if they subsequently left the airline, or if the company was forced to negotiate
with unions during the following five years. Meanwhile, Ryanair was contesting the claims of some
pilots for victimisation under the new contracts. 瑞安航空因拒绝工会承认以及据称提供恶劣的工作条件而
受到批评。英国航空公司飞行员协会(BALPA)试图在英国组织瑞安航空飞行员，保留投票瑞安航空飞行员加入工

会的权利。2006 年 7 月，爱尔兰高等法院裁定，瑞安航空欺凌飞行员接受新合同，根据合同，如果飞行员随后离

开该航空公司，或者如果该公司在接下来的五年里被迫与工会谈判，他们将不得不支付 1.5 万欧元接受新飞机的

再培训。与此同时，瑞安航空(Ryanair)正在对一些飞行员在新合同下受害的说法提出异议。
Ryanair was ordered to pay 'well in excess* of €lm in legal costs after a court refused the airline
access to the names and addresses of pilots who posted critical comments about the company, on a
site hosted by British and Irish pilots' unions. It claimed anonymous pilots were using a website to
intimidate and harass foreign-based pilots to dissuade them from working for the company. 一家法院

拒绝瑞安航空在英国和爱尔兰飞行员工会的网站上发布对该公司的批评意见的飞行员的姓名和地址，瑞安航空被

勒令支付远远超过 1m 欧元的法律费用。它声称匿名飞行员利用一个网站恐吓和骚扰外国飞行员，以劝阻他们为

该公司工作。
In late 2015, Ryanair concluded five-year agreements of pay increases of ten per cent with all 76 of
its pilot bases across Europe and was commencing a similar process with cabin crew. The Irish Airline
Pilots Association responded to the news by accusing Ryanair of misrepresenting the real situation that
pilots face in establishing normal industrial relations with their employer and claiming that the
agreement did not cover contractors who were more than 50 per cent of all pilots. 2015 年末，瑞安航

空与其在欧洲的所有 76 个飞行员基地签订了为期 5 年的加薪 10%的协议，并与空乘人员开始了类似的程序。爱尔

兰航空公司飞行员协会对这一消息的回应是，指责瑞安航空歪曲飞行员与雇主建立正常劳资关系所面临的真实情

Page 22 of 11
况，并声称该协议不包括占所有飞行员 50%以上的承包商。
The company maintains its right to treat its crew operating from bases in other higher paying
countries as if it were on Irish territory, and therefore subject to Irish labour laws, which are less
exacting than those pertaining in other European jurisdictions. This issue may be compounded by EU
regulations which require the payment of employer and employee social insurance costs to be
governed by the country where the employee is based. For instance, social charges in France are
40-45 per cent of wages against 10.75 per cent in Ireland. 该公司保留其权利，可以对待在其他高薪国家
基地工作的船员，就像对待在爱尔兰领土上一样，因此受到爱尔兰劳动法的约束，这些法律没有其他欧洲司法管

辖区的劳动法那么严格。欧盟条例可能使这一问题复杂化，该条例要求雇主和雇员社会保险费的支付受雇员所在

国家的管辖。例如，法国的社会费用为工资的 40%至 45%，而爱尔兰为 10.75%。

Notwithstanding the adversarial incidents in its industrial relations history, Ryanair appears to have
no problems recruiting staff, including pilots. 尽管瑞安航空在其劳资关系历史上发生过敌对事件，但似乎在
招聘员工(包括飞行员)方面没有任何问题。

Other risks and challenges 其他风险和挑战

As listed in its own report, Ryanair faced other risks, some specific and some generic to the industry：
• Prices and availability and financing of new aircraft.
• Dependence on key personnel (especially CEO Michael O'Leary).
• Dependence on external service providers.
• Dependence on its internet website, should it break down, even if there are robust backup
procedures in place； potential unauthorised use of information from the company's website ；
cyber-security risks.正如瑞安航空自己的报告中列出的那样，瑞安航空还面临着其他风险，有些是具体的，有
些是行业通用的：

·新飞机的价格、可获得性和融资情况。

·依赖关键人员(尤其是首席执行官迈克尔·奥利里)。

·依赖外部服务提供商。

·对其互联网网站的依赖，如果它崩溃了，即使有强大的备份程序；潜在的未经授权使用公司网站信息的可能性；

网络安全风险。
• A potential rise in Irish Corporation Tax, since Ireland may be under pressure to raise its tax regime
from other EU countries.
• EU regulation of carbon emissions trading.
• Risks related to ownership of the company's shares due to restrictions limiting share ownership by
non-EU nationals in EU-based companies to 49 per cent. However, in late 2015, the EU was
considering loosening the rule for individual countries that agree to abide by strict regulations on
state subsidies. ·爱尔兰公司税可能上调，因为爱尔兰可能面临来自其他欧盟国家的压力，要求其提高税收制
度。

·欧盟对碳排放交易的监管。

·由于限制非欧盟国民在欧盟公司的持股比例不得超过 49%，与公司股票所有权相关的风险。然而，在 2015 年

末，欧盟正在考虑放松对个别国家的规定，这些国家同意遵守严格的国家补贴规定。

Page 23 of 11
Leading Ryanair into the future 带领瑞安航空迈向未来
It is good to have someone like Michael Oleary around. He scares people to death.' This praise of
Ryanair's CEO came from fellow Irishman, Willie Walsh, then CEO of British Airways and later CEO of
the International Airlines Group (IAG).11 0*Leary has been described as 4at turns, arrogant and rude,
then charming, affable and humorous, has terrorised rivals and regulators for more than a decade. So
far, they have waited in vain for him to trip up or his enthusiasm to wane.*12 有像迈克尔·奥利里这样的人
在身边是件好事。他把人吓得要死。对瑞安航空 CEO 的赞扬来自爱尔兰同胞威利·沃尔什(Willie Walsh)，他当时

是英国航空公司(British Airways)的首席执行官，后来是国际航空集团(IAG)的首席执行官。11 0*利里被描述为

4AT 轮流、傲慢和粗鲁，然后是迷人、和蔼可亲和幽默，十多年来一直恐吓着竞争对手和监管机构。到目前为止

，他们一直在徒劳地等待他绊倒或他的热情消退。
In fact, OTeary had been pronouncing his intention to depart from the airline In two years* time*
since 2005. He declared that he would sever all links, refusing to *move upstairs* as chairman.
However, in an apparent change of heart in 2014, he signed a contract up to 2019, replacing his
previous year-on-year rolling contracts. His basic package, before bonuses, for 2015 was €2.4m, up by
a third on 2014. In 2015, Michael OTeary held 3.8 per cent of Ryanair's share capital. His fortune is
worth between €750m and $1.3bn, depending on different reports. 事实上，自 2005 年以来，OTeary 一
直在宣布他打算在两年内*时间*内离开该航空公司。他宣布将切断所有联系，拒绝作为董事长“上楼”。然而，

2014 年他明显改变了主意，签署了一份到 2019 年的合同，取代了之前的同比滚动合同。在不计奖金的情况下，

他 2015 年的基本薪酬为 240 万欧元，比 2014 年增加了三分之一。2015 年，Michael OTeary 持有瑞安航空

3.8%的股本。根据不同的报道，他的财富价值在 7.5 亿欧元到 13 亿美元之间。

When asked whether he would retire to focus on his stud farm, Oleary admitted that what he enjoys
most is working, and he will be involved in Ryanair as long as it is doing something interesting. Besides,
he needed to keep working to finance his racehorses which were a 'money pit', and strictly a hobby.
'Jesus, I'm only 54. I'm such a beloved leader here. Can you imagine the devastation I would cause if I
announced on Monday I'm leaving?' he 'joked' in an interview in late 2015.13 当被问及是否会退休专注于
他的种马场时，奥利里承认，他最喜欢的是工作，只要瑞安航空在做一些有趣的事情，他就会参与其中。此外，

他需要继续工作来资助他的赛马，这是一个“钱坑”，严格来说，这只是一种爱好。“天哪，我才 54 岁。我在这

里是如此受人爱戴的领导人。你能想象如果我周一宣布我要离开会造成多大的破坏吗？”他在 2015.13 年末的一

次采访中“开玩笑”

For most of Ryanair*s 30-year history, Michael O'Leary had been operating with two deputy CEOs,
Howard Millar, CFO and Michael Cawley, Chief Commercial Officer, part of the team that had built up
Ryanair. Both retired as executives in 2014, joining the board as non-executive directors. Since then,
there have been no deputy CEOs. Although Oleary consistently praised the contributions and
achievements of his

Page 24 of 11
management team, Ryanair was inextricably identified with him. He was credited with single-handedly
transforming European air transport. In 2001, 0,Leary received the European Businessman of the Year
Award from Fortune magazine； in 2004, The Financial Times named him as one of 25 European
'business stars' who have made a difference, describing him as personifying 'the brash new Irish
business elite* and possessing 4a head for numbers, a shrewd marketing brain and a ruthless
competitive streak*.14 在瑞安航空 30 年历史的大部分时间里，迈克尔·奥利里一直与两位副首席执行官(首席财务
官霍华德·米勒和首席商务官迈克尔·考利)一起运营，他们是瑞安航空团队的一员。两人都于 2014 年从高管职位上

退休，以非执行董事的身份加入董事会。从那时起，就没有副首席执行官了。虽然奥利里一直称赞他的管理团队

的贡献和成就，但瑞安航空与他有着千丝万缕的认同。他被认为是单枪匹马改变了欧洲航空运输的功臣。2001 年

，0，利里获得了“财富”杂志颁发的欧洲年度最佳商人奖；2004 年，英国“金融时报”将他评为有影响力的 25

位欧洲“商业明星”之一，称他是“傲慢的爱尔兰新商界精英”的化身，拥有 4 个数字头脑、精明的营销头脑和

无情的竞争能力。
Present and former staff have lauded O'Leary's leadership style： *Michaers genius is his ability to
motivate and energise people ... There is an incredible energy in that place. People work incredibly hard
and get a lot out of it. They operate a very lean operation ... It is without peer/ said Tim Jeans, a former
sales and marketing director of Ryanair.15 现任和前任员工都称赞了奥利里的领导风格：*迈克尔斯的天才是
他激励和激励人们的能力……。在那个地方有一种令人难以置信的能量。人们非常努力地工作，并从中获益良多。

他们的运作非常精干。瑞安航空(Ryanair)前销售和营销总监蒂姆·吉恩斯(Tim Jeans)说，这是没有同行的。
O'Leary's publicity-seeking antics are legendary. These included his 'declaration of war' on easyJet
when, wearing an army uniform, he drove a tank to easyJet's headquarters at Luton Airport. When
Ryanair opened its hub at Milan Bergamo he flew there on a jet bearing the slogan *Arrividerci Alitalia*.
He has dressed as St Patrick and as the Pope to promote ticket offers. A self-confessed loudmouth1
whose outspokenness has made him a figure of public debate, 'he is called everything from "arrogant
pig” to “messiah”.％ His avowed enemies include trade unions, politicians who impose airport taxes
(calling former UK Prime Minister, Gordon Brown a 4twit' and a 'Scottish miser47), environmentalists,
bloggers who rant about poor service, travel agents, reporters who expect free seats, regulators and
the EU Commission, and airport owners like BAA, whom he once called Overcharging rapists7.18 An EU
Commissioner, Philippe Busquin, denounced Michael O'Leary as Irritating . . . and insists he is not the
only Commissioner who is allergic to the mere mention of the name of Ryanair's arrogant chief/19 奥利
里寻求公众关注的滑稽动作是传奇。其中包括他对易捷航空公司(EasyJet)的“宣战”，当时他身穿军装，驾驶坦

克前往易捷航空公司位于卢顿机场的总部。当瑞安航空在米兰贝加莫开设枢纽时，他乘坐一架印有“意大利航空

公司”标语的喷气式飞机前往那里。他打扮成圣帕特里克和教皇来宣传门票优惠。他是一个自认直言不讳的人，

他的直言不讳使他成为公众辩论的人物。他被称为从“傲慢的猪”到“救世主”的一切。%他的公开敌人包括工

会、征收机场税的政客(称英国前首相戈登·布朗为“4twit”和“苏格兰吝啬鬼”47)、环保人士、抱怨糟糕服务的

博客作者、旅行社、期待免费座位的记者、监管机构和欧盟委员会，以及曾被他称为过度的英国航空公司(BAA)这

样的机场老板。。。并坚称他并不是唯一一个对仅仅提到瑞安航空傲慢的首席执行官的名字就过敏的专员。
An Irish Times columnist suggested that 'maybe ifs time for Ryanair to jettison O'Leary〉asserting that

Page 1 of 11
he has become a caricature of himself, fulfilling all 15 warning signs of an executive about to fail.20
Professor Sydney Finklestein identified these signs under five headings - ignoring change, the wrong
vision, getting too close, arrogant attitudes and old formulae. But having demonstrated the extent that
O'Leary meets the failure criteria, the columnist concluded： 'So, is it time for Ryanair to dump Mr
Oleary? Depends whether you prefer the track record of one of the most successful businessmen in
modern aviation, or the theories of a US academic from an Ivy League school/ Would Professor
Finkelstein's diagnosis be proven wrong after CEO I Michael O'Leary's conversion to customer service
and the 'AGB' plan in 2014? “爱尔兰时报”的一位专栏作家建议，“也许是时候让瑞安航空抛弃奥利里了”，
他断言自己已经变成了自己的漫画，满足了高管即将失败的所有 15 个警告信号。20 西德尼·芬克尔斯坦教授将这

些迹象归纳为五个标题-忽视变化、错误的愿景、过于亲近、傲慢的态度和陈旧的套路。但在证明了奥利里在多大

程度上符合失败标准后，这位专栏作家总结道：“那么，瑞安航空是时候抛弃奥利里了吗？”这取决于你是更喜

欢现代航空业最成功的商人之一的过往记录，还是喜欢常春藤盟校的美国学者的理论/2014 年首席执行官迈克尔·

奥利里(I Michael O‘Leary)转而从事客户服务和“AGB”计划后，芬克尔斯坦教授的诊断会被证明是错误的吗？

Page 2 of 11