Let's remember your all talking about a very clever businessman here - I'm sure Ryanair will use this to their best advantage, killing out competition and therefore emerging stronger. FR used 9/11 and other aviaition downturns to grow, as others reduced in size.
Seriously, everyones banging on about Ryanair is frustrating. I have had nothing but ontime, efficient flights, getting me to where I want to be. I don't fly with them because I like their service, I do it because they've made travel accessible to me more frequently at amazingly low fares.
Ryanair will emerge on top, they will have had plans for this for about 12 months, its not as if MOL woke up last week and went oh sh*t, I forgot the fuel isn't hedged from April 1st.