Ryanair’s Michael O’Leary is considering copying rival EasyJet by launching package holidays as its rock-bottom fares fail to draw profits

Michael O'Leary speaking (Credit: Thierry Monasse—Getty Images)

Ryanair and EasyJet have one thing in common: They both offer dead cheap flights across Europe.

But that’s as far as the similarities go. Their earnings in recent months have diverged dramatically—the Dublin-based Ryanair suffered a 46% profit drop in the three months to June 30, while its British rival saw profits jump 16% during the same period.