This report evaluates external environment and internal environment of Ryanair. It has certain competitiveness in the UK market, but it still faces challenges from potential entrants, suppliers, buyers, substitutes and industry competitiveness. In order to remain competitive in the market and meet customer needs, Ryanair airlines need to continuously innovate and improve services, while establishing long-term and stable cooperative relationships with partners to achieve sustainable development. The conclusion is that Ryanair has recovered from the pandemic downturn in 2023 financial year. Its risks are identified and risk management measures are analysed. First, Ryanair faces legal risks as it faces increasingly complex data protection laws and regulations. Second, in a highly competitive industry, the company faces operational risk from being exposed to significant price and other pressures. Third, Ryanair faces financial risks. Fourth, Ryanair faces cybersecurity risks and may incur increasing costs to minimize these risks. Within the company, Ryanair has established a clear functional organizational structure and clear division of responsibilities and authorities including the appointment of head of internal audit and the chief risk officer. Ryanair has implemented a risk management program across the company, with senior management responsible for reviewing and monitoring the financial and non-financial controls in place to manage risks to the business.