Diamond Dog,
007 is spot on with his assessment.
I know easyjet aren't recruiting until 2008 because I received an email off them telling me so! They have sufficient people to crew their current fleet and sufficient in their hold pool to start training as and when the new slots appear.
I am one of the lucky ones who got out of FR while there was still somwhere to go to. If you believe that there is loads of space elsewhere to deal with a mass exodus of FR pilots then you're frankly wrong. Just ask any current FR pilot trying to leave.
What my earlier post alluded to was that FR management will use this lack of opportunity for the FR pilots to leave en mass as a lever to further reduce the T & C's. Historically FR negotiate with their pilots early in the new year for any deal to start 1st April.
Let's see if I'm wrong when the time comes.