Not sure about a "shortage" but 50% of DAL retires in the next 10 years and 60% of combined AMR Airways retires in the next 8 years. Everyone currently at a Regional will have a job to move up to, the Regionals will continue to consolodate, shrink and some will liquidate. So while there may be fewer students in the pipeline, there will also be fewer Regional jobs to fill....aka....No shortage. The peak of the retirement wave is around 2027 and right around 2032-33 the numbers retireing are similar to present numbers. There is and will be no "shortage".