Repeat after me. There is no shortage. There will be no shortage.
The airlines feed the "airline pilot shortage" to the media for 1 reason: It makes new guys blow their cash to jump in so there is no shortage.
The mins fluctuate to fill the need which prevents a shortage. As the number of applicants drop to the FAA mins (due to low pay, not a shortage) the plan will be to get the FAA on board with the MPL.
Plan A: New pilot will pay for MPL.
Plan B: New pilot will enter a cost share training agreement with an airline to obtain a MPL.
Plan C: Airline will pay full cost of MPL and require training agreement.
Not in any plan: Raise pilot pay to attract applicants.
The airlines have run the numbers. Worst case plan C; Airline pays full cost of MPL training is cheaper than raising pilot pay. They think however they will be able to use plan A. It's a no-brainer money saver. The future pay for a pilot career has no where to go from here but down.
Don't buy it? Jumpseat to Washington D.C. ; get a cab to drop you off here: 1300 19th Street, N.W., Suite 750
http://maps.google.com/maps?q=1300+19th+St+NW,+Washington,+DC+20036,+USA&sa=X&oi=map&ct=title
Then hang with these guys for a week or so:
http://www.aircon.org/what_is_aircon/index_staff.htm
You will then understand why the pay will NEVER come back. It will be the most enlightening week of your life. Oh by the way the airlines need a stop gap measure because it will probably take 5 years or so to get this all in place. Let's see, what could they do? ( hint: 65 )
If they are able to get enough takers for plan A it will also save them significant money over the traditional new hire due to the tiny training footprint once hired. These 0 time-right seat 737/57 Airbus FOs will have ( in their mind ) paid their dues in cash upfront to skip the traditional routes. Meanwhile guys paying their dues the old way coming up through the ranks or military will refuse to pay twice. They will not get the nod because the job requirements will be ATP PIC type or SIC type or MPL with acft type.
WARNING: If you really want to fly airliners and do not care if it will ever make financial sense just put your head in the sand and DO NOT be informed.
http://canadianpress.google.com/article/ALeqM5hfJV9GykVeL04PW0j_RD3A7O_STA