Faq and Dawn Raider
You both are hitting the target. In fact Ryanair sold and leased back 10 aircraft last year. Perhaps LHC can tell us how much that contributed to the bottom line because the accounts shine no light on the subject. My guess is that all of Ryanairs profits last year came from this financial tactic - Easyjet may well have done the same.
Strangely the Stock Market Analyists haven't hit on it yet; are we looking at another Air Europe?