WWW,
I agree totally WRT the training aspects of this discussion. The 200 hr newbie will now find it hard to be placed in a "jet job" as recruitment will almost certainly halt/slow down. The desire from these airlines to recruit recruit recruit will be the first thing that stops should the unthinkable happen.
I'm also verse with your figures of both easyJet and Ryanair and also their business model. However, like with anything, large companies will struggle if the economic climate changes for the worst (either side of the pond).
With peoples mortgages becoming too expensive and people having to pay some months on their visa card I doubt that those chaps will still go to AMS on a stag do. They might, but in reduced numbers. Any reduction such as this will affect the P and L account of these airlines.
As you say they've produced record figures in the past 5 years. Yes they have. BUT this has been on the back of 5 years of tremendous unsustainable growth in all markets.
As you and I both said earlier it will be an interesting 12 months. WRT to the new starters I personally believe the worst option would also be to blow large sums of money in a short period.
L Met