It's entirely possible if they are losing money at the rate they appear to be. What about other suppliers, fuellers, caterers, cleaners etc - are they all owned by Planestation ? I doubt it.
Jes Ryanair can afford to give away seats at the rate they do. 70% of their profits don't actually come from seat sales, it's all the add ons......hotels, car hire, credit cards, onboard sales etc