EasyJet is Europe's leading low-cost airline. The airline was founded by Stelios Haji-Ioannou and the family remains the main shareholder. It controls other separate EasyGroup companies such as EasyInternetCafe, easyCar.com, EasyMoney and EasyValue. There are no “cross-shareholdings” between EasyJet and these other EasyGroup companies. EasyJet operates independently of other companies, although there are some "cross-marketing" arrangements. EasyJet is a low-cost airline officially known as EasyJet Airline Company PLC. The company is based at London Luton Airport. It operates frequent scheduled services for leisure and business passengers and serves more than 200 routes between more than 60 European airports. The company is listed on the London Stock Exchange and easyGroup only has a minority stake. EasyJet and its rival Ryanair, based in the Republic of Ireland, are by far Europe's largest low-cost airlines, and the rivalry between them is intense and sometimes virulent (particularly in Ryanair's market). alongside its managing director Michael O'Leary). The two companies have slightly different strategies. EasyJet primarily flies to major airports while Ryanair uses many more secondary airports to keep costs down. EasyJet is focusing more on attracting business as well as leisure travelers, although all of its planes have single-class cabins. Ryanair emphasizes that EasyJet's average fares are higher and its average punctuality is consistently lower. This is mainly due to the diversity of airports used and the fact that Ryanair regularly schedules its flights to last thirty minutes longer than necessary. As of September 2005, Ryanair carries more passengers, but EasyJet has a higher turnover, leading them both to claim to be "Europe's leading low-cost airline". EasyJet's vision for the future is based on building its strength as the largest low-cost airline. airline in Europe. Total turnover in 2002 was over £500 million, an increase of almost £200 million on the previous year. EasyJet's main competitor is Ryanair, which was Europe's largest low-cost airline before EasyJet acquired Go Fly. In early 2003, however, Ryanair bought one of the smaller companies in the market, Buzz. There is currently a debate over which company is now larger. They both have a similar number of routes; EasyJet carries more passengers (20 million); Ryanair is worth three times the market value of EasyJet. Technology plays a key role in the success of any business and EasyJet is constantly improving its technology network. • Using the Internet to Reduce Distribution Costs EasyJet was one of the first airlines to seize the Internet opportunity when it sold its first seat online in April 1998.