If the airline is "selling" 19% more seats but at 19% less per seat then it is not doing very well. A could open a pub selling very good beer at 49p/pint and I would pack out the place but make a massive loss.
Discounting is a very good way to fill spare capacity but Ryanair are undermining there income instead of just clearing spare seat.
More makey up figures. They not charging 19% less per seats and their revenue seems to be holding up nicely, add in the fact they made a nice profit.