Yes bookings are down, no surprise there. Would you book a holiday months in advance if there were rumours of redundancies in the air??
I expect bookings to pick up over the next few months, as people book holidays at the last minute having not been made redundant.
As frozenpilot said "It would just be nice to see them take a bit of a risk: ie expansion or new routes instead of constant consolidation and cost cutting."
Completely agree....a decision to cut back now could back fire next summer.