I think there is another point that we are all missing, besides fuel and recession etc.
The 4 big uk charter players (with the exception of Monarch), have merged to become 2. These 4 airlines have been drip feeding in new recruits for the past 4-5 years, whether it be from regionals, or direct from OAT/Cabair etc. These 2 huge airlines are now looking at hull losses, that will inevitably bring a few job losses...never mind recruitment.
This is just another uk airline 'issue' that combined with the 'kellogs credit crunch' makes large training commitments a very difficult decision at the moment.
Personally, I am going to finish my PPL in a few months, and hold fire.....I currently work at the front end of trains...business is booming, although I bloody hate it!