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Ryanair is an Irish low-cost airline with its head office at Dublin Airport, and with primary operational bases at Dublin Airport and London Stansted Airport. Ryanair operates over 250 Boeing 737-800 aircraft on over 1,100 routes across Europe and Morocco from over 44 bases. The airline has been characterized by rapid expansion, a result of the deregulation of the aviation industry in Europe in 1997 and the success of its low-cost business model. Ryanair is Europe's largest low-cost carrier, the 2nd-largest airline in Europe in terms of passenger numbers and the largest in the world in terms of international passenger numbers.  Ryanair has grown since its establishment in 1985, from a small airline flying a short hop from Waterford to London, into one of Europe's largest carriers. After taking the rapidly growing airline public in 1997, the money raised was used to expand the airline into a pan-European carrier.