Case Writers: Alessandro BUCCELLA and Herman FUNG This case forms part of a series with “Note on the European Airline Industry” and “European Airline Industry: Lufthansa in 2003”, but can be used independently. The case describes in detail the strategy of Ryanair, and compares the company to other European airlines using the “low-cost carrier” (LCC) model, with particular attention to Easyjet. The case highlights the fact that the “low-cost carrier” group is quite heterogenous in strategy and performance. The case calls for an evaluation of the overall potential of the low-cost carrier strategy within Europe, and for the relative evaluation of the strategies of different LCCs. How big will the market share captured by LCCs? Which of the LCCs are better positioned? What will the emerging structure of the low-cost segment in Europe?