I'll sit on the fence on this, can see both the positive and negative. However, I do disagree with Glofish. If the ME is a bubble then god help the rest of the industry. While the US may be seeing signs of a recovery, I wouldn't be betting my mortgage on it. Despite legislation and unions, pilots on regional jets still earn $19,000 per year.....before tax! I would not be surprised if we see another recession and it's back to square one. Europe is a mess, massive cutbacks and salaries slashed, Asia not much better.
The Gulf airlines are chasing the same market but it's a market that's expanding hugely, transporting people mainly from India to all their corner shops around the globe. As their families grow, so will the market.
If it crashes here, the rest of the World will already be F£@D