Just two years ago, airlines were facing a very serious shortage of pilots. They expected the shortage to get much worse because demand for air travel was supposed to double in twenty years.
Nobody predicted what actually happened. The volume of airline business dropped 96% just three months ago and they're not close to recovered yet. The big airlines expect to offer about one-third fewer flights next year.
That pilot shortage is gone. Airlines are offering early-retirement plans to pilots between the ages of 60 and 65 (mandated retirement age). If enough of them take it, the airlines will only have to lay off . . ten to fifteen thousand pilots.
Biggest concern of the pilots? If their employer airline goes under, the early-out deals will probably never be paid.
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