Ryanair will both survive and prosper
There is no chance that Ryanair will do anything other than survive and prosper.
They are the airline that has allowed the expanding middle class in UK and Ireland to take 3 or 4 holidays per year, and allowed even those young middle class with onerous mortgages to aspire to 2 holidays per year.
No-one will take that away from the middle classes.
This was all covered about 4 years ago by one of those (normally boring) CAA reports. However, their web-site is so unfriendly that I can't be bothered to find the url.