Ryanair on Wednesday revised its profit forecast, bringing it to a whopping 47%. The low cost model is something we all appreciate as consumers; the market does too.

The company is now valued at € 18,8 bn and is the fifth most valuable carrier in the world. This story is often narrated as the story of a heroic CEO who picked up a few tricks from Southwest Airlines Co. in the US, the third most valuable company in the world. In this story a company went from one aircraft and 5,000 passengers t...

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