Irish air tycoon Tony Ryan dies

Tony Ryan was one of Ireland's most successful businessmen

Tony Ryan, the Irish entrepreneur who founded budget airline Ryanair, has died aged 71 after a long illness.

Dr Ryan launched Ryanair in 1985, having earlier made a fortune through a successful aircraft leasing firm.

Dr Ryan hired Michael O'Leary, the firm's current boss, as his right-hand man - since when Ryanair has grown into one of Europe's largest carriers.

Mr O'Leary described his former colleague as an "extraordinary man" who would leave an "astonishing legacy".

'Spirit of entrepreneurship'

Dr Ryan went on to work for other airlines including Aer Lingus, with which Ryanair is now involved in an acrimonious takeover battle.

Following other successful investments in industries such as wine and bloodstock, Dr Ryan's family fortune has been estimated at more than 1.2bn euros (£832m).

In a statement, Dr Ryan's family said it was "proud of his many achievements" and "of his spirit of entrepreneurship which created enterprise and opportunity for many people in this country and abroad".

Ryanair said Dr Ryan had "pioneered" competition and low fares in the European air market.

Ryanair's current status as one of Europe's largest airlines is a far cry from its humble origins, when it began life as a tiny, loss-making airline ferrying a handful of passengers between airports in Ireland and the UK.

Most aviation experts have credited Mr O'Leary with turning round the airline's fortunes by cutting fares, making its operations more efficient and expanding aggressively.

However, Ryanair has been criticised in recent years for its treatment of staff, claims which it has always denied, and has become a target for environmental campaigners.

Dan Loughrey, chairman of Ireland's Air Transport Users Council, said Dr Ryan would be remembered as someone who "revolutionised the aviation industry in Ireland and abroad".