Michael O'Leary (Ryanair)

Michael O'Leary
O’Leary in 2015 at the World Economic Forum
Born	Michael Kevin O'Leary (1961-03-20) 20 March 1961 (age 57) Kanturk, Cork, Ireland
Residence	Delvin, Westmeath, Ireland
Nationality	Irish
Education	Clongowes Wood College
Alma mater	Trinity College, Dublin
Occupation	Businessman
Known for	Chief Executive Officer of Ryanair
Net worth	US$1.03 billion (April 2018)
Spouse(s)	Anita Farrell (m. 2003)
Children	4
Parent(s)	Ted and Ger O'Leary

Michael Kevin O'Leary (born 20 March 1961) is an Irish businessman and the Chief Executive Officer of Ryanair. He is one of Ireland's wealthiest businessmen.

Michael O'Leary was born 20 March 1961, the second in a family of six, in Kanturk in County Cork. He was educated at Clongowes Wood College, County Kildare. In 1979, he began a four-year Bachelor in Economic and Social Studies programme at Trinity College, Dublin. He graduated from Trinity in 1983 and then worked as a trainee with Stokes Kennedy Crowley (later known as KPMG), studying the Irish tax system. He left after two years in 1985, setting up profitable newsagents in Walkinstown and Terenure, Dublin.

While at Stokes Kennedy Crowley, O'Leary had met Tony Ryan, head of Guinness Peat Aviation, a leasing company (GPA). Ryan was one of KPMG´s clients and O'Leary advised Ryan on his personal income tax affairs. In 1987, Ryan hired O'Leary as his personal financial and tax advisor, where Ryan's main interest was in GPA. Ryanair was established around this time and originally followed a traditional business model, but quickly began to lose money. Subsequently O'Leary was sent to the USA to study the novel Southwest Airlines business model.

Under O'Leary's management, Ryanair further developed the low-cost model originated by Southwest Airlines. O'Leary may have described the inauguration of the ancillary revenue movement during a 2001 interview in The Sunday Times. "The other airlines are asking how they can put up fares. We are asking how we could get rid of them."

The business model envisioned by O'Leary uses receipts from on board shopping, internet gaming, car hire and hotel bookings to replace the ticket revenue from selling airline seats. Savings are also made by negotiating discounts with airports for reduced landing fees. In many cases, regional airports have made no charges so as to secure flights that bring passengers and wealth into their area.