Whenever it comes to offering guidance as to future profits to stock analysts and investors, they always provide a very pessimistic view of the future 12 months - and nobody can really prove that the Ryanair board were doing anything wrong in just expressing a cautious view of the world. It's worth listening in to the recorded conference calls, just to hear the tone that MOL and the Ryanair board adopt when questioned by stock analysts, compared to the public image they normally project !
They are very aware that if a company promises profit growth but fails to deliver, the investors punishes the company in question for it with a faill in the share price, so they are just trying to cover themselves. However, a company is meant to provide a *realistic* guide as to future profits, on which Ryanair are probably falling down.
MOL has been challenged by friendly stock analysts in the past on (for example) forecast passenger numbers for the next few months, and he has conceded that sales were not going as badly as he had suggested.
The Panel in Ireland should probably be picking up on this and expressing an opinion - but it's likely to be difficult to mount a formal case. The Irish financial regulatory authorities have more important things to deal with at the moment.