Hasnt some of the problem been down to pilots leaving to work at Norwegian Air?
Agreed it was a bad way to run a company but they will ride it out. Price of flight is all to many people. That and availability.
The pay and conditions issue has been a storm long brewing... people only work for them for experience. For pilots, it's an effective place to learn quickly as they fly to such a varied spread of airfields. Unfortunately, their wages are amongst the lowest in the industry.
Trying to postpone holidays with a £12k bonus is an open admission that a) the wages are crap, b) that the crews are already pushing their flying hours, and c) that they have far fewer staff than they need. The fact that take up of the offer has been minimal tells you just how bad the company is... for some that's bordering on 6 months money.
The whole airline is about every last penny and opps everyone else, always has been and will continue to be until it goes bust.
Incidentally, it's far from the first time that the CAA have had to give Ryanair a stern licking... they used to have at least one aircraft a week impounded at Stansted for never being cleaned properly... no point having a fire resistant cabin if it's full of litter. It was cheaper to pay for adhoc deep cleans and lose the aicraft for a week or two than to have a cleaning contract. Even Easyjet aircraft get properly cleaned once a day.
Mr O Leary is a very clever boy, he doesn't do anything without a reason, might be a very clever out strategy.
If this is the case, he is at least consistent... At no point has he ever considered anyone else.
That said, there have been several new airlines establishing themselves in central europe, and I suspect that Ryanair are starting to feel the heat.