Ryanair Holdings plc 's (RYAAY, Financial) share price declined 3.5% in the third quarter. Ryanair is the lowest-cost short-haul airline in Europe. In early September the company cautioned that near-term demand is expected to be weaker than previously expected. This news put pressure on Ryanair's shares as well as those of other European airlines. The company's share price rever sed course quickly and r ecouped much of its lost ground by quarter end. We continue to believe that Ryanair will take market share from incumbent airlines that have higher airport and labor costs. (Aaron Wasserman)
From Ron Baron’s Baron Funds third quarter 2013 letter.
From Ron Baron’s Baron Funds third quarter 2013 letter.
