Therosterman:-I have to agree with LAVDUMPER on his analysis of the low cost aviation scene. Personally I believe that Ryanair will achieve market dominance at the expense of both GO and Buzz. EasyJet will continue to grow but I think will find it harder and harder, and will run out second to Ryanair.
The shorthaul work that these carriers do is hard work, multiple short sectors operating in busy airspace and into and out of airfields that are themselves getting busier and busier, it’s very tiring work. You do have the advantage though of being able to make good money, and as all the afore mentioned operators are outside of London you can probably live somewhere affordable.
Bmi are also worth considering, having recently joined the Star Alliance and with 14% of the slots at London Heathrow I believe they will be around for years to come, albeit playing second fiddle to British Airways at LHR. They fly short haul and now long haul with a summer programme of charter flying for various charter operators like Air 2000 and Airtours. Their pay and conditions are competitive, but you do have to work at LHR and live in the expensive South East.
I would choose between Ryanair and bmi, unless one of the other carriers operates from an airport away from the London area that suits you better.