Here's my advice, as everyone else is handing them out.
If you have the money, if you can afford to invest long term (1-2 years) and understand you will have to find a different form of income meanwhile, then go for it.
Ryanair aggressive strategy is to bounce back as soon as the travel restrictions are removed and people are let out again.
They did that on a smaller scale during the first lockdown, they kept the crew and planes flying so that by July we all got back flying without having to wait for maintenance checks or crew training.
Ryanair wants to be the number one player in Europe, covid is unfortunately helping with the demise of many competitors airlines.
They don't want to wait for crew to be trained to fly the planes, they want to have pilots rated and ready to go ahead of time.
The market is full of experienced guys, but Ryanair has never been too keen on them, they much prefer cadets.
Financially they are cheaper by paying the training and a lower PSBH.
Also by training them internally, the process usually goes smoother and we have less issues/delays on line training.
Wizzair is planning the same, but I don't know their modus operandi and won't comment.I can quite safely say that the legacy airlines won't be expanding anytime soon, instead they will likely restructure the airline to survive on state aids. The likes of easyJet, Jet2 will have a hard time and hopefully they won't end up like Norwegian.
I would rather put some money in now and be ready when we come out of it, instead of waiting and then join the queue of applicants in two years time.
My opinion, and i'm sure all the Ryanair bitter pilots on here wont waste time and turn this in the usual bagarre.