The fierce rivalry between Ryanair and EasyJet was highlighted in a libel action brought by Stelios against Ryanair over a Ryanair advertisement depicting Stelios as Pinocchio (whose nose grew ever longer as he told more fibs), tagging him as "Mr. Late Again" on the basis of EasyJet's refusal to publish its punctuality statistics. Initially, when Stelios objected to the advertisements as personal and libelous, O'Leary refused to apologize and suggested that the dispute should be settled by a sumo wrestling contest or a race around Trafalgar Square. However, O'Leary ended up apologizing unreservedly to Stelios, as Ryanair agreed to pay a £50,000 penalty and published a half- page apology in a national newspaper.
Stelios promised to donate the money to charity, saying, "I would like to dedicate this little victory to all those members of the traveling public who have suffered verbal abuse and hidden extras at the hands of O'Leary.