WWW says it's 1990 all over again but that's just speculation from someone who wants to show they've been around the block a bit. This reccesion could very well damage many airlines, but it might just the same be a storm in a tea cup. At the end of the day air travel has grown hugely in the last 18 years so comparrisons with the last downturn are a little redundant (scuse the pun!) if you ask me.
I was more worried about my GCSE's in 1990 than the recession so I haven't been around this particular block before.
You think that making comparisons with the previous serious recession (which is what we now have) are redundant. I can't understand that point of view. Sure history never repeats itself exactly but there has to be some merit in studying it as a guide to the present and future. No?
To replicate the loss of Dan and Air Europe this time the industry would have to see, say, easyJet and Thomson go bust. Roughly 3,000 pilots between them because, as you point out, the industry has grown enormously.
The tiddlers like XL and SilverJet going pop is neither serious nor a suprise. Very bad news for Wannabes but not a disaster.
My strong suspicion is that 2009 will present a Wannabe disaster.
Storm in a teacup this will not be. Point in history is far more likely.
WWW