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Old 3rd Nov 2005, 19:06
  #20 (permalink)  
Sunfish
 
Join Date: Aug 2004
Location: moon
Posts: 3,564
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Ah yes, Hansol and the "big bank account" theory. Every heard of liabilities Hansol?

A simple glance at the latest quarterly report shows that shareholders equity actually DECREASED for the quarter.

Furthermore, Ryanair's operating margin on its core business - flying people from A to B is decreasing. Its a bit over 22 million. It was 25 million last comparable quarter, even though revenues are up about 88 million.

As for maintenance costs - they are constant at about 14 million. With 96 aircraft and 14 bases.

This sounds a bit light to me because way back in about 1984, with a fleet of approximately this size of mixed aircraft types, admittedly with a heavy maintenance program going as well and about 1100 staff in maintenance my annual maintenance budget that was accepted was $110 million - thats 1984 Oz dollars.

I will leave the rest to your imagination.
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