The pound will be toast as soon as the mass bank nationalisation is announced and IR's begin to be drastically cut.
Foreign holidays and breaks are going to look much more expensive next year. I suspect that God is going to add to the airlines misery by making the summer of 2009 a 4 month heatwave. Things are so bad that I now believe Mother Nature will turn against UK airlines.
There is absolutely no way that several UK airlines will not go bust in the next 12 months. DO NOT expect to be able to get a job for years.
The present crisis was my worst fear and now it is happening it will take a while for the economic damage to become apparent. Japan's Lost Decade will be the closest guide.
EU wide there will easily be 50 airlines cease trading this winter. Wannabes will be in the job market with all those pilots. It will be 1991 with knobs on.
WWW