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By 1995, after the consistent pursuit of its low-cost business model, Ryanair celebrated its 10th birthday by carrying 2.25 million passengers.

In 1992, the European Union's deregulation of the air industry in Europe gave carriers from one EU country the right to operate scheduled services between other EU states and represented a major opportunity for Ryanair.

O´Leary was charged with the task of making the airline profitable. Southwest Airlines convinced that Ryanair could make huge inroads into the European air market, at that time dominated by national carriers, which were subsidised to various degrees by their parent countries.

Or, as is the case for pilots, the vast majority are either agency employed or self-employed, and their services are contracted to Ryanair.

After a successful flotation on the Dublin Stock Exchange and the NASDAQ Stock exchanges, the airline launched services to Stockholm, Sandefjord Airport, Torp (110 km south of Oslo), Beauvais–Tillé and Charleroi near Brussels.

The airline launched its website in 2000, with online booking initially said to be a small and unimportant part of the software supporting the site.

With two routes and two planes, the fledgling airline carried 82,000 passengers in one year.

Ryanair passenger numbers continued to increase, but the airline generally ran at a loss and, by 1991, was in need of restructuring, including the closure of Ryanair Europe/London European.

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Ryanair launched a new base of operation in Charleroi Airport in 2001.