Working on assumption of continued decreases in fare and a redundancy program similar to one that just happened then its a big problem.
€125 plus Million forecast on redundancy for 2010 announced 2009 plus €70-80 Million to compensate for Operating losses in 2009 then available cash starts to get to sub €250 Million at which point banks start to become worried on Airlines ability to survive.
Forecasting no real recovery until 2011 means cash burn continues in 2010.
They may survive but little cash to pay for expansion.