Sometimes pessimism can be understated ....and in this case it may well be . It is only sensible to make someone think again if they are about to sell or mortgage their house to get a cpl . There are now loads of very experienced pilots not working and dropping their rates if they are freelance . I know of plenty who were v v busy 6 months ago but done nothing for the last 3 months . I have just sold my 350 due to no work when for the last 2 years i have had plenty . We will always feel the pinch quicker here due to being swamped with beaurocracy and costs . I will guess that 50% of aoc,s go out of business in the next 12 - 18 months or at least just drop their aoc . Hope i am wrong but i have had one call for a flight in last month
ps the top end twin market will survive as their users are mostly recession proof.