Ryanair is finding favour among stockbrokers with ABN-Amro and Davy recommending it as a buy. The low-cost airline has impressed the market with its second-quarter results which recorded strong growth despite the abolition of duty-free sales.

ABN-Amro says the results will allay any fears that the ending of duty-free sales might reduce the company's growth rate and it also demonstrates the successful integration of five new aircraft to its fleet.

Davy points to Ryanair's track record in rolling out its successful Republic-Britain formula into Europe. The airline is able to offset the intense airfare competition in Europe through ever lower costs.

At 770 cents Davy says the stock looks very attractive particularly when it is compared with other growth airlines such as South West.