He had a family fortune worth an estimated €1.2 billion ($1.6 billion). It was Ryanair that helped to revolutionise air travel in Europe by offering air fares for as little as £1 plus taxes, making cheap weekend breaks and short-haul flights to destinations across the continent affordable for Britain''s middle class.

Ryan helped set up Ryanair in 1985, with a share capital of just one Irish punt (roughly €1.30) and a staff of 25. Its first route was from Waterford in southeast Ireland to London''s Gatwick airport, using a 15-seater Bandeirante aircraft. Airhostesses had to be less than five feet two inches (1.50 metres) tall to be able to operate in the cabin.

The company teetered on the brink of bankruptcy till it managed to get permission to fly from Dublin to London, and Michael O''Leary became its chief executive. It then went on to become Europe''s biggest low-cost airline.

This year, Ryan will carry 50 million passengers on 557 routes to 26 European countries. It has 23 offices over Europe, and employs 4,800 people from 25 countries.