You say they get around 35.000 euro a year, flying 750 - 800 hours a year.
It works out 56.250 Euro a year, before tax if 750 hours, after you passed your first 500 hours. Now yes, this is before tax, but with a limited company, you should be able to deduct enough expenses to save you quite a lot in taxes etc., if you have a good accountant, and use your head properly. (business sense) All expenses in connection with your job are deductible when you are a limited company, if you are abroad and need to pay for your food, than this is deductible.
Now Depone, are you a current Ryanair pilot?
Fact is, that if you are novice pilot, with 250 hours TT, getting the chance to fly a jet with such low experience is for sure not the norm!
So you are actually getting paid to gain work experience!
In reality if they did like in the USA, nobody would be able to do this until they had 1500 hours TT, so at the same time you can complain of T & C's, but seriously are you trying to tell me that a fresh FO, with 250 hours TT, is worth more than this? I find the pay fair, compared to experience, there are far worse cases than RYR around in Europe!
You kind of contradiction yourself, saying FO does 750 -800 hours a year, and than talk about the down months, and annual leave!
The guarantee gives the pilot a base minimum average a month, and on that they can make more, end of the day, if they reach 800 hours a year, it is not that bad, as an FO.
Your maths are not the best, because for the life of me, I can't get 35.000 Euro to add up if they fly 800 hours a year.
Remember that TR, will be one big fat deductible expense, so that first 12 months, is money more or less in your pocked + paying the accountant!