I don't see any significant threats to FR business
This is an interesting comment facelookbovvered, in my view the main threat to Ryanair model continues to be the threat of an accident. Yes this is a threat for all airlines, but given Ryanair's staunch approach to keeping costs low, this could be perceived with an accident as low maintenance. Other airlines would not feel as great a pinch in my view as say Ryanair. Nonetheless, they have a great record to date. Long may it last.
In addition, considering the competition, easyJet is one to watch as far as going after business travellers is concerned, also as Jet2 and easyJet to a lesser extent focus on holiday packages, they are in effect spreading their risk. A competitor who has a diversified risk, i.e. only reliant on core business could become a strong threat?
EI-BUD