Monarch, while not immune, is somewhat protected by its private financial set up and they seem to be happy to add funds so that the airline can change its emphasis from Charter to scheduled carrier.Because of this, IMHO Monarch will outlive all the current competition if its business plan holds water. I should certainly prefer them as an employer and you could conceivably build a long term career there. The problem for the loco's, which is yet to be addressed, is what they do when their market reaches maturity and saturation. The SW Airlines business model seems to only allow for constant growth on the back of low profit/high turnover, many predict that when RYR and ESY are the only players left they will have to feed off each other until only the leanest survives. This may take many years, but the fallout for the pilots will be a constant downward pressure on T&Cs, which I should not fancy if I was looking forward to 30 or so years of employment.
I fully admit to having to having fingers crossed!