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The new airline would carry over 50 million passengers a year.
The documentary criticised Ryanair's training policies, security procedures and aircraft hygiene, and highlighted poor staff morale.
The rapid addition of new routes and new bases has enabled growth in passenger numbers and made Ryanair among the largest carriers on European routes.
In August 2005, the airline claimed to have carried 20% more passengers within Europe than British Airways.
Ryanair launched a new base of operation in Charleroi Airport in 2001.
Later that year, the airline ordered 155 new 737-800 aircraft from Boeing at what was believed to be a substantial discount, to be delivered over eight years from 2002 to 2010.
O'Leary returned from a visit to Southwest Airlines convinced that Ryanair could make huge inroads into the European air market, at that time dominated by national carriers, which were subsidised to various degrees by their parent countries.