If Mol and Stelios have the answer, which does not involve Government subsidies, why does Gaza think that the answer is Government subsidies. Surely the answer is to provide tickets at a price that the passenger can afford. It is called a market solution. If any large carriers cease operations, which is a shake-out to be expected in a downturn, then the remaining operators will fill the gaps. Holiday destinations will continue to be served, distributing pounds and dollars around the World. Governments are not the solution, they are the problem.
Just in case you ask, I do not work for Mol or Stelios. In fact I work for a large carrier, but I am well aware that profits are essential and that the passenger is the key.