I sincerely hope we aren't still feeling the downturn from this in 2006! The long term future of aviation is still one of substantial growth, and in this cyclical industry things are bound to pick up again.
Bob Crandell (ex?) chief of American Airlines was interviewed on CNBC yesterday and said he believed in the long term airlines would buy larger units (larger aircraft, and less of them). I would of thought it is Boeing's 'sonic cruiser' that is looking in doubt now. That would certainly mean higher seat/mile costs than an A380, and no one is going to be prepared to pay for that. Just look at the 747 v Concorde in the 60's. This is basically the same (but switched round, Europe now producing the jumbo).