Ryanair need to fill 11% extra seats and rise seat prices to cope with higher fuel costs. They also face a big drop in pax at Dublin. Spending cuts around Europe will mean a lot less state or council aid to regional airports. The more FR have to pull out of airports that need to charge real landing fees the more planes they need to find new homes.
Ryanair putting up revenue per pax by 5-10% will be a big change for the airline. It will lead to a few less people flying and a few going with better airlines. The ash problems showed many that it was better to pay a bit more and get looked after when airspace was closed.
While BA is in self harm mode, ryanair will do ok but we will then have a hard winter for the industry.