It is highly unlikely that CX can avoid cuts in routes and staff even if the US traffic is not the best yield. If the US go into the Middle East this could inflame Muslim nations and could drive traffic down yet more to bread winners like Bali & Dubai. Plus it may make Europeans reluctant to traverse the Middle East even at FL038.
CX would have been slightly better placed if the 'yellow ribbon bearing flight deck' had not been carrying out their own form of economic terrorism over the last few months. The action of the pilots was dead at birth but they did not read the writing on the wall. Cuts/route closures/Losses were coming but even quicker/sooner/bigger now.
To all those wearing the 'colour of cowards' who said they 'dont care about CX any more' claiming they would jump into another job with no trouble..... tell that to the boys at AN, BA, UA, CO, SQ(as of today) and many others. I notice talk 'up front' of walking off to fly for others has all but stopped. Glad we've got a job now are you...
CX is in better but battered shape. Some is self inflicted ... by the 'Boys in yellow'.