Next Airlines
Betting on a demise I can't say I agree with.
However, looking at the list with the exception of Alitalia and maybe Spanair, the rest I would suspect are not in bad shape. How Aer Lingus is at lower odds to Ryanair, I have no idea. The debate on that could go on for a while.
The one serious instability is the "credit crunch" and I beleive that will effect carriers from behind. Ie - the ability to borrow to hedge etc. If they can't borrow they are screwed and the game is over, or at least a knight in armour is required. And on that basis I would lower the odds on most of the airlines. There are very few of them with "Cash cash" in the bank. And where they have cash, it may not be enough to keep them plodding along. This might be a simplitic view, but it's more than charter airlines who are "flaky".
Cheers
Shamrogue