As always ryanair look like they are doing very well at growing traffic. What seems to be going wrong is they are not getting the profitable traffic.
And your data to back this up is where ?
Could you do the comparable between FR / BA / U2 and EI regarding profitable traffic........oh wait BA and EI are massive loss makers so just do a Qtr comparable on FR and U2.
They carried less people in December than November. The 12% growth is poor considering that BA were possibly hit by strike. Ryanair were 81% booked but EZJ were 85.4% booked even though they often have higher fares.
Given that BA's operations do not not hugely overlap with FR's then puzzled about why you would expect FR to benefit that much......I wouldn't have.
The other thing they reported today is they have hedged half they fuel for 2010-11 at $720/tonne. They are paying about $620 per tonne for 2009-10. I see jet fuel will be at $1000/tonne again soon.
So what you are finally saying is that they have done well again in hedging at a low level well below what their competitors are currently paying or do you feel that everyone else will get fuel miles cheaper and FR will be paying nore than everybody ?