Look guys, we are all in the same boat in this industry (at least unless you are Emirates/Etihad) in that you have to pay for the increase in oil prices.
Ryanair (read O'Leary) refused to hedge much fuel in recent years. Despite:
1) A sliding US Dollar that traditionally leads investors to get tucked into alternative investments (such as Oil and Gold)
2) A Gulf War (rising oil surely?)
3) A massively booming China/Brazil/Russia and China. All of whom are entering the first world rapidly and demand the use of Oil to produce things that we all buy (more oil needed = more oil used = higher oil prices)
4) A definite, complete, total and utter move towards a "green" lobby, which was sure as hell gonna raise the oil price.
Now, faced with the above obvious signs, Ryanair refused to hedge their fuel. They thought Oil would get cheaper.
This is a Gambler's mentality and they have been hit. Hard.
This is an airline with a broken business model ( Deutsche Bank's words, not mine).
As O'Leary said, it's a perfect storm ahead. Higher Oil, Consumers with less money to spend and a potential recession.
Paying Pilots/Staff less than they are now will not save an airline.
Onl a total change of business model AND hopefully management will do that.
However, "Ducksy" has his cash and will be off to Mullingar to breed Horses at everyone's cost. No matter what.