Windsheer, Ryanair have cash in the bank, low operating costs and can undercut any of their competition for many years to come. Flybe have cash in the bank, record profits last year and £12m profit for first quarter this year. Flybe's new Q400 deliveries are just replacing departing 145s with a more fuel efficient aircraft. Both the airlines you mention are actually better placed than most to weather the tough times facing our industry.