The Major airlines posted big losses on profits in the last year;
but this has happened before, major airlines like Eastern and Pan Am,
once the largest in the world, took big losses and went bankrupt. In the
void they leave behind from their departure; they open the doors for other
companies such as Southwest, Jet Blue, and Spirit airlines to take their
place.It is all a matter of horizontal movement, pilots from American
and United who were let go last year now work for the new upstart airlines
and the market will find equilibrium yet again.
The U.S. department of labor indicates that the market for professional
pilots will grow in the next ten years and will continue to offer the
great benefits and pay which are enjoyed by current airline pilots who
averaged more than $100,000 last year and whose top pay was $200,000 for
some senior captains. |