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The new airline would carry over 50 million passengers a year.
In August 2006, the company started charging passengers to check in at the airport, therefore reversing its policy of paying for online check-in.
After the rapidly growing airline went public in 1997, the money raised was used to expand the airline into a pan-European carrier.
Ryanair denied the allegations On 5 October 2006, Ryanair launched a €1.48 billion (£1 billion; $1.9 billion) bid to buy fellow Irish carrier Aer Lingus.
Ryanair CEO Michael O'Leary said the move was a "unique opportunity" to form an Irish airline.
A loss of €3.3 million in the second quarter of 2004 was the airline's first recorded loss for 15 years but the airline became profitable soon after.
The enlargement of the European Union on opened the way to more new routes for Ryanair.
Ryanair has grown from a small airline flying the short journey from Waterford to London into Europe's largest carrier.