Hi Gary,
You do have some coding issues that may be hindering your site's performance and fixing them would do no harm to your search engine positioning (it might even help it slightly).
First off, You've got a javascript error related to your Google ad syndication. On my end they don't show up. That might be the first issue: people see that little yellow "errors on page" graphic in IE and may be turned off. Not only that, by fixing it the ads might show up (which they don't seem to now) and you'd make some more money.
Second, you've got CSS in the body of your document. Try externalizing this type of thing so that it's in its own CSS file. It makes the code that much leaner and meaner, which decreases load time.
Third, it looks like you copied and pasted from MS Word into an HTML editor/CMS of some sort. There are certain pieces of HTML output that are somewhat unique to Word when it's converted.
Some editors (and I'm not sure about Mambo, which you appear to be running) have a button specifically for copying and pasting from Word. Try to use those.
Now, as far as why your traffic is down, there may be other factors (and since I'm not sure what time period we're talking, I'm going to assume the last month or so):
1) Your site isn't retail-based, and it's (sing it with me now) The Most Commercial Tiiiiiiiiiiiiiime ooooooooof the Yeeeeeeeeeeear. So...more people tend to gravitate toward retail types of sites.
2) For a site focusing on something as generic as "flight training schools", you really don't have that many on there. If I'm a pilot, I'm expecting some sort of regional directory of them or something.
I can't think of anything else, but this should get you started (and I'm sure others will come up with stuff too.)
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