You'll know when the bottom has been reached and passed when the unemployment figures are dropping month on month.
Yes and right now we are still losing jobs every month like never before.
We are not really in a recession, sorry to say that. We are at a corner stone, we are in a period of change.
Clearly, we don' t really know what's going on. And we can only speculate on the future.
Why? What is new?
1-fuel reserve (or unstable price)/environment
2-the globalization of the economy/Asia
3-the share holders need a salary, not the employee anymore apparently
4-a new finance world that is unable to share their profit
That what appeared in the 80s 90s.
And what is sensitive to fuel speculation, to economy? Aviation.
Aviation will have to change. It has no choice.