Ryanair has become one of Europe's biggest airlines mostly by adding routes and planes, rather than by buying companies, but some observers think that might change soon, and CEO Michael O'leary keeps dropping hints they might be right.
Despite internal turmoil last year over scheduling and labor issues, the company is financially strong, and not likely willing to let rivals and potential rivals outrun it as consolidation of airlines in Europe continues. Its investment and ultimately control of Austria's LaudaMotion, the remnant of Niki Air, is probably a hint to strategy.
Ryanair was touted as a possible buyer for bankrupt Alitalia, but pulled its bid because of its last-year problems, and stayed out of the AirBerlin break-up because it believed that the deal, and pricing, were rigged for Lufthansa.
But there may be other nibbles down the road. In October, the latest scheduled date for a buyer or shutdown at Alitalia, there may be useful pieces for Ryanair to grab; it's already Italy's largest domestic carrier. If British Air's parent IAG succeeds with its hope of acquiring Norwegian, regulators would certainly require some selloff, and Ryanair could be there for that.
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