Ryanair are going to need to solve their staffing crisis if they want to avoid going the same way, so it may be that they will take on some of the Monarch staff even if only temporarily - I've no real idea of Ryanair's financial position, but sure you're right that the compensation payments are going to hit them very hard.
I suspect that the amount paid out in compensation is likely to have had an impact on Monarch too. Yes when flights are delayed it's an inconvenience, and where it's due to the airlines fault or within their control then it's only right that those affected are compensated, however the compensation culture has taken over to the extremes, and EU regulations which allow people to claim up to 300% of the cost of a flight must be crippling to the airlines at times. What makes it worse is that due to the many dubious claims management companies which have spung up, often only a small percentage of these payouts actually make it to the affected travellers - whilst unscrupulous, morally questionable companies make big bucks!
Fortunately most if not all travellers affected will be covered and should not be left out of pocket or stranded - this has been on the cards for some time and the CAA have been fast to act with the repatriation programme, the ATOL scheme will protect the package holiday side of things and CCA/cardscheme protection/insurance will help most others to reclaim what they are owed. I just hope that the other airlines play fair and don't try to capitalise by ramping prices for alternative flights which are sure to be in high demand.
I work for O2, however any advice or opinion given in this community should be considered my own and not necessarily representative of Telefónica UK Limited.
