RY's financial strength (net cash in balance sheet, and B738 book values way under market price, even after recession) means it will be one of the last ones standing.
B.S. pure and simple. You have no idea what Ryanair's
liabilities are, especially if some of them are "off balance sheet".
As for the aircraft valuation, do you seriously think dumping 100+ 737 on a market is going to get you a good price?
You are whistling past the graveyard.
The only observation you can make at present is that Ryanair is solvent at present and it's Directors believe today that it will continue to remain so, since trading when insolvent will see the Directors in big trouble.
Also note that due to the simply huge cashflows involved in running an airline, when things go bad, they go bad very, very quickly - in a matter of a few weeks or less, and the first people who know are the fuel suppliers.