Ryanair AGM Statement

Ryanair Holdings PLC
24 September 2003



   RYANAIR ANNOUNCES 260,000 SEATS AT £1.00 AT TODAY'S ANNUAL GENERAL MEETING

Ryanair, Europe's No.1 low fares airline today (24 Sept'03) held its Annual
General Meeting in Dublin and celebrated the event by releasing 260,000 seats
for sale at just £1.00 one way (excl. tax). These seats are available only at
www.RYANAIR.COM, and must be booked from 11.00am Wednesday 24 Sept'03 to 4.00pm
Thursday 25 Sept'03.

Speaking at today's AGM, Ryanair's Chief Executive, Michael O'Leary said;

    'Ryanair's business continues to be robust, with stronger traffic numbers
    albeit at lower than expected yields. We believe that the yield environment
    this Winter will continue to be depressed. Ryanair remains committed to
    driving down air fares, to make air travel more affordable for ordinary
    European consumers, and to offer choice and competition to the high fare
    flag carriers that have been overcharging for years. Costs remain under
    strict control and we therefore remain comfortable - given no changes in
    present circumstances - with the consensus range of analyst expectations for
    the fiscal year.

    'Ryanair continues to work closely with the EU Commission, in order to
    expedite their investigation of our Charleroi agreement. We remain confident
    that Commissioner de Palacio will in her decision formulate a framework
    which will not just allow but encourage all publicly owned airports to
    compete on a level playing field with privately owned airports all over
    Europe.

    'There has been some ill founded speculation that this decision may
    adversely damage Ryanair's business model. This is not the case. Publicly
    owned airports, particularly in the regions of Europe, will continue to
    compete aggressively to win the low fare, high volume business which Ryanair
    generates and no EU ruling could ever prohibit or constrain publicly owned
    airports from competing with the many privately owned airports which Ryanair
    operates to.

    'Ryanair has revolutionised air travel all over Europe. We are the airline
    with the lowest fares, and we are the airline opening up direct scheduled
    services to many secondary and regional airports. As the current KLM - Air
    France merger discussions highlight, the airline industry in Europe is
    consolidating into a small number of mega carriers who are forcing consumers
    to connect across a few large hub airports at much higher prices. In these
    circumstances it is vitally important that independent low fares airlines
    like Ryanair provides competition, consumer choice, lower fares and direct
    services which allow customers to by-pass the congested hub airports and
    create jobs for local people in their local tourism industry and a viable
    economic future.

    'By contrast to our rapid growth all over Europe, the situation in Ireland
    remains pitiful. Whilst we welcomed the Government's decision to break up
    the Aer Rianta monopoly, the slow pace of change, and the continuing failure
    to adopt and approve competing terminals at Dublin Airport is hindering
    competition, choice and lower access fares into Ireland. For a country which
    has such an outstanding record of being forward looking and forward thinking
    in attracting inward investment, I find it incredible that the enormous
    investment in aircraft, jobs and tourism offered by Ryanair, is still being
    held up by nothing other than a lack of action by the Irish Government.

    'For our part in Ryanair, we remain committed to developing new bases, new
    routes at existing bases, and additional frequencies on existing routes as
    we grow to almost 24 million passengers in the current year. This growth
    will be facilitated by our continuing investment in up to 250 brand new
    Boeing 737-800 series aircraft, by the creation of 2,000 new jobs for
    pilots, cabin crew, engineers and ground handling staff at new bases all
    over Europe, and by continuing to offer air fares that will be on average at
    least 50% cheaper than our nearest competitor.

    'We estimate that over the past 12 months Ryanair's 20 million passengers
    have saved over €2bn over the high fares charged by our competitors. Ryanair
    is opening up many secondary and regional airports which the flag carriers
    have either avoided or withdrawn from. Ryanair is revolutionising tourism
    and low cost access to cities and towns all over Europe and playing a
    leading role in advancing the integration of the people all over the
    European Union. To celebrate we are releasing 260,000 seats for sale at just
    £1 one way (excl. taxes), but these seats are only available up to 4.00pm on
    Thursday 25th of September and can be booked now at www.RYANAIR.COM.'


Ends                                               Wednesday 24th September 2003



For further information
please contact:                 Paul Fitzsimmons         Pauline McAlester
                                Ryanair                  Murray Consultants
                                Tel. [phone]       Tel. [phone]



    Note:
    Booking period:  Wed 24th Sept - 4.00pm Thurs 25th Sept.
    Travel Period: 1st Oct - 23 Oct 03 (excl. 17th-19th Oct 03)
    Applicable days: 12.00 Mon - 13.00 Thurs & Sat after 12.00
    Advance purchase: 7 days
    Subject to availability - terms and conditions apply


                      This information is provided by RNS
            The company news service from the London Stock Exchange