The timeline in the last recession was:
House price and stock market crash, recession, unemployment rises, recession ends, unemployment continues to rise, large airlines go bust.
Spread that out between 1989 and 1994 and you have a crude measuring stick that one might apply to the current situation.
Once the unemployment figures have breached 3 million and are falling and once the public spending totals have been slashed; only then will we see how big an aviation sector the new economy can support.
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