The fact is all airlines are seeing reduced loads and reduced profit on the seats that are sold (Yield). Therefore it makes sense to reduce or stop flying those routes that are not contributing to the bottom line. That will mean you have an excess of crew/staff/equipment that needs to be made redundant. If laying off a large number of crew etc, is what they are doing, then it sound like prudent management to protect what is still a successful business. Yes there may be smoke and mirrors in the Virgin accounts, but if you look at the amount of cash they have in the bank, check the load factors they are maintaining and then consider the steps they are taking to protect themselves, you will see that they can weather this storm and emerge fitting fit on the other side. Who else will still be afloat when the storm has passed. Take a look at who's loads are falling and who's are holding up. (The punters are already running to the safe bet!) It paints a picture!