http://www.globes.co.il/en/article-ryanair-to-launch-tel-aviv-rome-flights-from-17-1001198940
Cheap indeed, though I can think of much more pleasant things to spend €17 on...
For 20 bucks to Rome, I'll stand the whole flight. I've paid more for a Megabus before. I got a "good" deal a few years ago when I paid $350 RT TLV-FCO.
Ryanair aint too terrible
That's why they're rated one of the worst airlines in the world by Skytrax. (And many others...)