Dude, it was a joke.
The FACT that Gemini is still here after the worse aviation downturn in world history is proof positive that it's a viable long terms player.
3 darts to toss at you on your high-horse:
1. Many companies did not seek bankruptcy to weather the "worse aviation downturn in history". Chap 11 is a failure of
everyone in the company to adjust to market conditions and protects shareholders/creditors - though in the airline world it appears to be a way to bypass management ability and labor negotiations. Cargo360 was not one of those, but many were. I don't know the facts behind Gemini's bankruptcy, but there has been more cargo than capacity for years (Cathay Pacific's annual report is the source, in regards to their expansion of cargo operations)
2. I'd call it an "major airline down turn" as Boeing, engine manufactures, leasing companies, several airlines and avionics companies maintained profitability during this time. There was still plenty of $ in aviation, just not on the business model many used.
3. Simple fact - there are more able (not qualified, as that definition varies) pilots on the market than there are jobs - so wages are going to go down. Unless ALPA turns into a guild (like stage workers, plumbers, lawyers or CPA's.), or it becomes exceedingly harder to become "able" (like adopting JAA requirements), that isn't going to change. That is a natural by-product of capitalism.
I'm sorry I'm not going to work for Gemini, and therefor protect your salary, benefits and work rules from market forces, but they didn't offer me an interview and my
personal preference was/is not to work for a company that had
proven they do not know how to run a profitable business - which has led me to dump a career in aviation as a whole.
Enjoy flying at Gemini.