I don't think the pilot shortage will be "severe." Between corporate, military, the regionals, freight, etc, plenty of qualified guys are out there for the majors. Hell, even toss in places like Spirit, jetBlue and Virgin America since a lot of those guys would leave for a Delta or United. It's going to be severe for the regionals, but I think the majors will make out okay. If it starts getting tight, they'll reduce frequency by flying larger airframes or run more code share flights. The sky isn't falling yet.