商品敘述：

Examines the valuation of an Irish airline that reported its first decline in net income in 2004 and saw a 30% stock price drop on the news. Ryanair is a low-cost, low-fare airline headquartered in Dublin, Ireland, operating over 200 routes in 20 countries. The company has directly challenged the largest airlines in Europe and has built a 20+ year track record of incredibly strong passenger growth while progressively reducing fares. It is not unusual for one-way tickets (exclusive of taxes) to sell on Ryanair''s Web site for less than one euro. Having created profitable operations in the difficult airline industry, industry analysts and Ryanair itself have likened the airline to its U.S. counterpart, Southwest Airlines, and the common stock has attracted the attention of investors in Europe and abroad. Valuing Ryanair is problematic because of the general levels of uncertainty in the industry (i.e., fuel costs, labor, macroeconomic factors, etc.) and is exacerbated by the company''s stated goal of actually decreasing fares each year.

涵蓋領域：

Accounting standards;Cost analysis;Financial performance measurement;Economic forecasting;Securities analysis

相關資料：

, (XLS452), 0p, by Mark T. Bradshaw

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