Ireland-based airline Ryanair is set to invest £10m each year in a technology innovation hub it is setting up in Dublin, media and marketing website The Drum reported yesterday.

Ryanair Labs, which was formally announced on Monday, will seek to launch startups operating in the digital and IT sectors which can enhance the online travel booking experience.

The unit will initially focus on mobile, content and customer profiling, and its first product launch is set to be an app that…