Considering taking a flight on 23rd dec to return on 26th to madrid. having never flown at this time of year am i asking for trouble ? Or will it be pain free (as near to it as possible with ryanair)
No different to any other time of the year. Airports both ends will probably be busier and you run the risk of weather affecting flights but otherwise, no different to this week or last month....etc.
Just one other thing, on the 26th, if your onward travel requires use of Public Transport, this may a be bit sparse that day. Trains will be running but not as frequently.
buy travel insurance just in case you are stuff or miss your flight.
Have had too many friends that have 'saved' £30-60 for yearly travel insurance, then bh as a cheap flight is cancelled or they have missed one and lost their money in the process.