easyjet Vs Ryanair

I have happen to flown with both and I shall share my experience of each of them indepedently...
1) Ryanair: Its fare tend to be cheapest around if you book well in advance... When you fly with Ryanair, please dont expect anything apart from having a seat... And it is usually a mess while boarding the aircraft, as there is no order of boarding... Just get there and get you... They also tend to charge a very high rate for any snacks/drink etc... Also ryanair tend to fly to all secondary cities in Europe (which could be as far as 1~2hrs away from the city itself)...
2) EasyJet: It fare are a little more expensive than Ryanair at most time... But they are much better than Ryanair in term of crew and staff being far more friendly than Ryanair... Also that EasyJet do have a order of first to check-in first to board policy to reduce inconverience or mess during boarding... Their snacks/drink sales tend to be at a cheaper rate than Ryanair... And they tend to fly to the major airports of the cities...
In term of delay or cancellation... It is not very usual for either airlines... But as you may aware that they have a very short turn around time, so there could always be knock on effect for flights after... But cancellation dont tend to happen usually unless any of their aircraft goes wrong... But personally feeling is to fly with EasyJet as they do fly to major airports which is much more converience for us when accessing the city and the airport while returning...
Also, you can also have a look at www.ba.com and www.flybmi.com as sometimes they have pretty bargin tickets competitive against Ryanair or EasyJet as well... So maybe you can have a look at them as well...

I travelled on Easyjet. The tickets are not necessarily a lot cheaper than traditional flag carriers. You should check with the online travel agents before booking.

Easyjet has a decent record these years. Their flights are on-time and staff pretty friendly. They recently renewed some of their aircrafts and so if the tickets are cheap, it's worth trying.