I don't know enough about the aviation industry to have a relevant opinion.
However, about this time last year I do recall the CEO of Ryanair saying there would be "a bloodbath" within the low cost airlines during the winter of 2004-2005.
As far as I know there wasn't.
Is it a case of the bloodbath being put back a year or was it the often-seen O'Leary posturing on behalf of his airline?