Well, Rubik - firstly I do not fly for Ryanair so I stand to be corrected. It is not the
only correct action, that is what is wrong with it. I.E. They are not the 'normal'
SOPs. You say you are a '737 pilot'. I suggest you have a look at the recommended actions for engine failure on final approach (for every company I have known) before your next sim check - if
your company INSIST on an
automatic g/a regardless of conditions then:-
a) I apologise
b) I am staggered.
For the benefit of our readers, I quote from the manufacture's procedure (for the -800 series):
Engine Failure On Final Approach
737-800, 737-900
If an engine failure should occur on final approach with the flaps in the landing
position, the decision to continue the approach or execute a go-around should be
made immediately.If the approach is continued and sufficient thrust is available,
continue the approach with landing flaps. If the approach is continued and
sufficient thrust is not available for landing flaps, retract the flaps to 15 and adjust
thrust on the operating engine. Speed should be increased to 20 knots over the
previously set flaps 30 or 40 VREF. This sets a command speed that is equal to
at least VREF for flaps 15. Wind additives should be added as needed, if time and
conditions permit.
If a go-around is required, maintain the additional speed, select flaps 1 and follow
the engine out go-around procedures. Subsequent flap retraction should be made
at a safe altitude and in level flight or a shallow climb.
Just seen Magplug's post. We may not know it all, but we do know our procedures - and MP has only 295 posts!
Edited to add the missing bits for completeness.