Ink, the in-flight magazine publisher, is developing a system that will customise advertising for travellers, according to their route and demographic data.
The ads will be printed on Ryanair boarding cards and will target destination and departure points.
A Ryanair spokesperson said: "Passengers are required to reference their boarding cards on a number of occasions during a trip, providing repeat exposure for advertisers."
The revenue from the ads will be used to keep Ryanair airfares low.
This month, consumer watchdog Which? said it is taking a super-complaint to the Office of Fair Trading (OFT) against debit and credit card surcharges, citing low-cost airlines, such as Ryanair, as the worst offenders.