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Ryanair Holdings was incorporated in 1996 as a holding company for Ryanair
Limited, now known as Ryanair Designated Activity Company ("DAC"). The latter
operates a low fare, scheduled-passenger airline serving short-haul,
point-to-point routes mainly within Europe. In fiscal year 2019, the Company set
up Buzz, formally known as Ryanair Sun, (a Polish charter and scheduled
passenger airline with a Polish AOC), and acquired Lauda (now a Maltese wet
lease provider to the Ryanair Group with a Maltese AOC), and set-up Ryanair U.K.
(with a U.K. AOC). In fiscal year 2020, Malta Air became the fifth airline in
the Ryanair Group. Each of Buzz, Lauda, Malta Air, Ryanair DAC and Ryanair U.K.
are wholly owned airlines within the Ryanair Group. See "Item 5. Operating and
Financial Review and Prospects--History" for detail on the history of the
Company. As of June 30, 2021, the Ryanair Group had a principal fleet of
approximately 422 Boeing 737 aircraft and 29 Airbus A320 aircraft.
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