A few weeks ago in my commercial ground school at the university where I teach I told the students about this, and they were totally puzzled as to why I would even suggest they should be concerned about this.
It was met with comments like "OMG I studied abroad in Spain last year and it was so fun! It would be awesome to work for a Eurpean airline!" and "I backpacked around Europe two summers ago and flying Ryanair all over Europe was so cheap!!! why wouldn't this be a good thing????"
Seriously, it's time to weep for the future of this country, not just this industry...