Virgin Australia isn't going anywhere. They're cashflow positive. They can service their debts. Cashflow is more important than profit. They're both important - but cashflow rules. They have free cash. So they're not going anywhere. They're holding back capital spend and 'clearing the decks'. They're making a number of strategic decisions that will reshape the carrier - and the carrier will be a different one within the next 12 months - but it will still be here none-the-less. It will be fine. The market can support both.
But... there may be less demand for pilots with any fleet adjustments they make.
EBIT is stil trending in the right direction...