DAVID BUIK | BGC CAPITAL
I thought the results were good. Ryanair is excellent at cutting costs when sales are lower, and the fact that the firm has hedged its fuel costs for the next year is pretty smart. The company does what it does very well, and under the circumstances of the snow and other disruption the balance sheet looks fairly strong.
GREG SMITH | FAT PROPHETS
While some of the figures are disappointing, the fact that the overall transaction rates have gone up is an advantage for Ryanair. The firm’s policy of ancilliary charges might not be popular with everyone, but it’s a way of pushing up its profit per seat. It has also hedged nearly all of its fuel costs next year, avoiding what could have been a huge problem.
GERT ZONNEVELD | PANMURE GORDON
Solid third-quarter numbers. Next year will provide some challenges as economic conditions remain uncertain. Over the medium term, the capacity growth deceleration [and eventual standstill] should translate into attractive and sustainable profit growth. Cash generation should be strong, possibly around €1bn [£854m) per annum once aircraft deliveries come to an end, making further returns of capital likely in the coming years.