From the Ryanair website
1985
Ryanair is set up by the Ryan family with a share capital of just £1, and a staff of 25. We launch our first route in July with daily flights on a 15-seater Bandeirante aircraft, operating daily from Waterford in the southeast of Ireland to London Gatwick. Ryanair’s first cabin crew recruits must be less than 5ft. 2ins. tall in order to be able to operate in the tiny cabin of the aircraft!!
1986
Ryanair obtains permission from the regulatory authorities to challenge the British Airways and Aer Lingus’ high fare duopoly on the Dublin-London route. Services are launched with two (46-seater) turbo prop BAE748 aircraft. The first flights operate in May from Dublin to London Luton. The launch fare of £99 return is less than half the price of the BA/Aer Lingus lowest return fare of £209. Both British Airways and Aer Lingus slash their high prices in response to Ryanair’s. Ryanair starts the first fare war in Europe. With two routes in operation, Ryanair carries 82,000 passengers in its first full year in operation.