WILL IMPACT YOU AS WANABEE OR EXPERIENCED PILOT! THERE IS LIMITED FUNDING AVAILBLE TO AIRLINES TO ROLL OVER MATURING DEBT.... THIS KILLED XL AND OTHERS WILL FOLLOW.
Correction, this killed a weak airline and will kill other weak airlines.
If you reverse the argument, would you, as an ab-initio, prefer to have 300 airlines to choose from of which 250 are "weak airlines" or would you rather hope to get a job in a market where there's only 150 airlines to apply to but 100 of them offer you job security.
Weak airlines will go, strong airlines will take over where they leave (if there's a point in doing that) and offer new, secure jobs.
The airline industry is going through a cleaning process.
Olympic Airways is also going down, the last rumours say...
In Europe, there'll soon be only a few majors to pick from. LH/LX/SN/BM/SK, AF/KL/OS, BA/IB for longhaul, FR/EZY for shorthaul.
The times of each country counting 5 to 15 airlines is over.