DAZ211,
What makes you think that Ryanair are in a better position that Aer Lingus?
Standards and Poor have recently made two statements regarding both companies - One saying that Aer Lingus were seriously undervalued and were a BUY; In relation to Ryanair they have questioned the suitabilty of their financial model in a recessionary market.
Aer Lingus are disposing of two aircraft next year - one sold and one returned to the leasing company. Ryanair will have nearly sixty aircraft surplus to reqirements. Who's better placed to ride out a recession?