In 1996 and 1997, I worked for a European carrier who over the period of a few years prior to 1997 had got used to having a plentiful supply of Pilots. As a result of course the conditions got worse and worse. The morale got very low. All of a sudden at the end of 1997 the market opened up for Pilots and in the one month of November 30% of Pilots just left. They put salaries up quickly after that but it was too little too late. They were paying high leasing costs for aircraft that they had to sit on the ground. They were out of business a short time later.