racedo the fact that you are willing to pontificate on the basis of scant knowledge is now very clear. This is not to mention your willingness to apply your superficial knowledge without any real concern for the actual facts. What you say above is highly dependent on your personal (and very questionable) assessments of what is actually going on in both cases.
Consider this statement: racedo fails to fully appreciate the amortisation policies at work here, the role played by tax offsets and the use of cash flow to maximise capitalisation benefits; in combination with clever gearing arrangements on the loan account, and preferential share purchase leverage mechanisms, the medium term financial advantages and benefits are thus evident.
I concede that this is guff. But to the uninitiated it might give the appearance of wisdom. But it is still guff.
racedo, let's just forget the foregoing and put it behind us. Since you are so willing to speculate I'd really like you to tackle an intriguing and very real issue. So here is the serious question: what do you make of the challenge to Ryanair of reduced traffic, cash flow and yield in the context of Ryanair's committment to purchase so many aircraft (whose arrival cannot be deferred)? It would be helpful if your assessment took into account the consequences to Ryanair's cash reserves due to (a) previous aircraft deliveries, (b) fuel-hedging errors, (c) the failed efforts to take-over Aer Lingus and other recent demands on their cash reserves (such as losses). Bonus question: what are the current, unencumbered, cash reserves available to Ryanair and is their business model at any risk?
Anyone who has something to say will be welcome to give their opinion - but please note that ideology and bluff will attract a penalty of 25% on the overall grade.