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After a few quarters of slowed profit growth, outspoken O'Leary is stepping out of the spotlight and the airline is making major changes that will help it compete for business travelers in Europe.

Ryanair will now allow passengers to bring a second small carry-on bag onboard with them following the relaxing of a rule which stipulated that passengers could only fly with one piece of cabin baggage.

The fee charged to passengers who have already checked-in online but need their boarding pass reprinted at the airport has also been reduced from €70 ($95) to €15 ($20).

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Tags: bag fees, ryanair

Photo Credit: Ryanair Chief Executive Michael O'Leary gestures during a signing ceremony at the 50th Paris Air Show, at the Le Bourget airport near Paris, June 19, 2013. Pascal Rossignol / Reuters

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