ryanair market transaction Essay

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Market transaction: Bristol – Riga – Bristol flight with Ryanair Introduction Couple of weeks ago I decided to go home to Lithuania for the weekend. I bought a return flight from Bristol to Riga with the low-cost airline Ryanair. In the remainder of my work, I would like to analyze this purchase from micro-economic point of view looking at how changes in various factors influence its supply and demand. Ryanair. How the service was created and brought to market? 30 years ago airline industry made air travel affordable just to rich people. But the expansion of the external borders of the EU provided opportunity for the businesses to target international markets and generally increased the desire for people to see new places without the difficulty of getting visas, etc. These changes increased the demand for cheap and quick flights, which is the main reason why Ryan family set up their business in 1985. Since then, it has managed to become the Europe’s largest airline by the number of planes and destinations and is now offering 800 routes connecting 26 European countries. Moreover, their rapid expansion continues across Europe providing more and more cheap flights every day. Why I chose to fly with Ryanair? Being a student, I am on a tight budget, therefore price is one of the main factors influencing my purchases. After comparing prices of various flight operators, it was Ryanair that offered me the cheapest flight. Also, it is the only airline flying from other cities in UK other than London to my home in Lithuania. Therefore, I saved myself quite a lot of time, which I would have otherwise spent traveling to London and back. Finally, Ryanair offered me a wide range of dates and times to chose from compared to other airlines that only fly to Lithuania once or twice a week. Factors that influenced the price I paid My return ticket including

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