Cantillon: Ryanair goes from no-frills to all frills

Ryanair, the airline that did more than any other to destroy short-haul business class, is continuing to go all out to woo back the corporate hobnobs.

The former no-frills airline announced on Wednesday that it is launching a new private jet charter service for hire, which comes complete with fine dining options and reclining seats for up to 60 passengers.

The airline is offering a Boeing 737-700 for group hire that will be crewed by a Ryanair pilot and cabin crew professionals. It can be hired for up to six hours at a time and Ryanair promises the most competitive rates in Europe.

The new service marks something of a departure for Ryanair which made its reputation (and its money), from killing off the idea of air travel as a luxury to be enjoyed by the few. Indeed, Ryanair went so far away from this idea that eventually it had to do an about-turn in the face of serious criticism.

Since then we’ve seen the airline turning on the charm, firstly by charming regular passengers simply by being nice to them, and more latterly, by trying to get corporate customers back on board.

In 2014, Ryanair announced plans to double the number of business passengers it had, partly by selling through a global distribution system for the first time in over a decade. This was just one step on the road to redemption as it sought to boost business travellers from 22 per cent to close to 50 per cent within two years. Other moves included the launch of “business plus” fares with priority boarding, premium seating and so on.

Ryanair recently announced that third-quarter profits more than doubled year-on-year and attributed much of that growth to its “Always Getting Better” programme and an increase in corporate passengers.

Such customers no longer look at the airline with disdain and are now more than ready to be wined and dined, or so Ryanair will hope.