Hmmmm.....lets see
1. September 11/Continued terrorist threat(whether real or imagined - that's for another thread.)
2. Falling Pilot's salaries. (Thanks LCC)
3. Increased cost of Cadet Scheme.
Would you be spending $130K+ to put your kid through the scheme when they aren't guaranteed a job at the end? It seems a lot of parents are thinking along those lines. Especially when you can educate them through Uni and have them pay the costs to the Govt when they start earning money.
And probably earn a bucket load more money....