Either way, its pants. Aviation is in dire poo, especially in the UK. With the euro in crisis and every western nation facing massive cuts, which will result in horrific unemployment which will make 2011 a far worse year for aviation and beyond.
Probably in the UK, certainly not on the continent. We do enjoy the lowest unemployment figures for nearly 20 years now, the economy is growing so fast the forecasts have to be raised every 2 weeks to keep step with the real world and airlines start to hire in earnest now. The weak euro actually helps a lot since our exported goods are cheaper elsewhere which in turn leads to increased orders for those goods. We do have pre-crisis results in some parts of the economy allready, something that was forecasted for 3 years down the line. However if your economy is mainly based on government grants and not on producing and exporting goods you are in for a few very hard years indeed.