I am going to start off by saying that I don't mind FL and they are actually the first LCC I look at when shopping for a flight (not counting US since I don't consider them an LCC but that is a totally separate thread).
So anyhow I am wondering if perhaps they are seeing weak advance bookings. They are running sale after sale which I think is really diminishing the value of their "sales". FL just ended a two day sale last night at midnight only to kickoff basically the same sale again today. Customers will realize this and stop making a fast decision to book, which is exactly what you want someone to do. By the way I did buy a ticket in yesterday's sale.
Anyhow, what does everyone else think about this? I think perhaps consumers are only buying tickets on FL when they have a "sale" going on.
ALSO, I know there has been some analyst speculation that the economy is cooling and things are weakening for the carriers, however DL announced today that advance bookings are looking good for the summer travel season.