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Given that the economic forecast for the majors is rather bleak, is anyone reconsidering their career goals? This seems especially detrimental to people who are about to assume a great deal of debt for flight school. If the majors tip, won't that slow upward mobility for flight instructors and regional airline pilots? Do any working pilots out there have anything to say about this?
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1)The airline industry has always been cyclical. The incredible business boom that started in the eighties and continued through the nineties was an unusually long up cycle, hence the particuarly vicious down cycle.
2) The pay and benefits enjoyed up to now by the legacy carrier employees were conceived in a regulated/protected industry that was 100% unionized. Deregulation set the stage for what is happening today. It was just the 90s boom that held it off for awhle, leading to:
3) Pay and benefits will not return to what they were, at least not in the lifetime of anyone on this forum. No amount of wishful thinking or union solidarity can overcome the market forces at work here.
4) If you want to fly someone else's airplane for a paycheck, then become a professional pilot. If you want to become a millionaire you might want to look elsewhere.
5) Personally I'm thinking about retiring from my legacy carrier and pursuing other flying interests. So that will make room for one more, it I do.
Make your decision. Live with the choices. Don't be afraid to change course if you want to.