I think it's safe to say that today's economic climate will dictate from now on that all business's in this industry look at the 'low cost' model when evaluating their own performance. The more with less attitude of senior management is driven by the comparitive success of the airlines who fall into this bracket. Shareholders concerns are generally claimed as the driving force behind much of the restructuring etc that is now common place, however the mad scramble for viability in the changing market has only begun.
To my mind the successful airlines of the next 5 years will be judged not only by the return on investment and market share but by industrial relations with the workforce. It is my opinion that entry salaries, in AUS / NZ will fall another 5% for tech / cabin crew in the next 2-3 years and then stabilise. Those companies who can value-add to salaries will become preferred employers and those who don't will struggle.
It is an unfortunate reality I think in the present climate. Gone are the days of internalised induction training, stable rostering practices and 200,000.00 salaries for left seaters. I don't agree with it but I can't see changes likely while the low cost model is the darling of the industry so to speak.