This is for the sake of all Viking, catering, ground handling, airport and many more staff that would loose their jobs.
WRONG - people will still want to go on holiday. All it means that crew, handlers, catering etc will be working for another airline flying these same passengers.
Despite the recession there is still overcapacity in the market. What we are seeing right now is consolidation, as has happened all over Europe.
It is just a shame that the actions and business practices of PW will make it very difficult for any independant charter airline to flourish in the UK given that consumer confidence in the independent sector has just been shattered again. This is XL all over again !!
My guess is that holiday makers will either stay at home in 2011 or choose to book with one of the big two.