>nor can the price difference to US be the base for your cost savings Yeah I agree it's not perfect — but as someone who used to live in the US it's a base for me
The main reason Ryanair is so cheap is that they have the fastest turn around time in the industry. This means the utilisation rate is far higher. Part of the reason they're able to turn around so quickly is that they take less hold luggage (so unloading/loading is not holding them up), un-allocated seating means they get to overbook/bin pack better, worth thinking through the second order effects.
I think the main reason Ryanair is so cheap is that they get insanely good deals with the airports because they bring so much business to the region. Ie Alicante, a secondary airport, is somewhat tourist-dependent.
Ryanair makes a deal with the municipally-owned airport and says hey, we're going to bring thousands of Brits and Germans to you (with full wallets). The municipality gives a good deal in return.
There's also the 1.5x revenue multiplier from ancillary revenue.
Finally, they only own one type of airplane. Makes the maintenance etc easier.
(In fairness, they don't _always_ do this at Brussels airport, sometimes using a normal jet bridge).
Decided to head down and work out why, only to get shouted at by a very angry staff member as they wanted to depart early....