The possibility of Alitalia going t...s up is a worry. You kind of expect it with smaller tour operators now and then.
As for other worries though - non at all. But I do think it makes a difference whether you are a package tourist or a Thailand regular on flight only, who knows where to go and how to get around. Package tours just don't seem popular at all from the UK to Far East at the moment. As Guess says, a combination of factors, and I tend to agree. The 'credit crunch' though seems to hit those most who couldn't have afforded a foreign holiday in the first place, and who are struggling just to pay their bills.
A lot of Brits seem to take more than one foreign hol a year now, so stay closer to home but take 2 or even 3 trips, rather than one biggy.
People in that kind of income bracket get upwards of 6 weeks leave a year, but usually have to take their leave in smaller chunks, and find shorter flights more acceptable.
Strangely last week I saw an Ad hoarding board over here for the first time promoting Asia for hols. Probably aimed more at Malaysia.
For me I'm travelling KLM/China. If China Air goes bust theres a problem! If KLM go it'll be hop on North Sea Ferries for the first leg

A sprout is for life - not just for Christmas.