Astro is right, major airlines are in much better financial shape than previous years. More cash on hand, more unencumbered assets, and years of focus on efficiency from route planning to fleets. That said, it's not going to be painless- our European route based employees, from pilots to support staff (engineers, records, etc) are obviously in an exposed position now. We are grounding some of our fleets (those that served European and Asian flights) as well as accelerating the retirements of our 757 and 767 fleets. It won't be painless, but the airlines will survive for a while.