Having been through a similar process recently, I would recommend doing some reading on the airline in question here on FT and then PMing a few of the folks that really seem to know their material or that either work for or have been interviewed by the carrier if possible. If you've been to any DOs, you may also want to contact some folks that you've met that are top tier on the airline and that know it's operations well. Luckily I had the advantage of being able to contact both an FTer that had recently been hired by the airline that I was meeting with as well as another who had just gone through a similar interview. After messaging with them I was able to feel more confident about the interview process and some of the things to prepare.

Good luck!

See, I want this job. I dont want to be laughed out of the room

Would second the advice of those who say you need to be very mindful of your own long-term interests and look for landmines there. My own first big job was at a high-profile company that had pay and benefits well above average, but also was to go into a big downsizing spiral. It's a lot more fun to work for a growing company than a shrinking one. With all that has happened to airlines, why are they filling a job like that from outside with a fresh grad? Is it for skills they can't otherwise find, or are they going to ask you questions to poke at your tolerance for long hours, pay cuts, reduced benefits, etc.? Are they maintaining a system with too many benefits tied to length of service? (definitely dicey with airlines). There was a thread in the CO forum a few months ago about what that airline did to its own management employees. Also, if the whole industry is downsizing (and do note the shrinking legacy carriers are the sharpest YM practitioners), you want skills that are portable outside the industry.

Sorry to be such a downer, but if I knew then what I know now...

That is definantly good to keep in mind RustyC. Its hard these days to go anywhere in the airline industry and have job security. I am looking into two legacy carriers and one LCC, so we'll see. Like I said previously I would like to get some experience under my belt so long term security in one company, while nice, is not something I expect to have.