I completely agree that lowering minimums could have dangerous consequences. I also have a lot of faith in the training given to pilots by the airline; the line experience they gain as F/Os also helps (although this might not be an ideal training environment). I wish everyone could gain more experience instructing. It is definitely the best way to build experience and knowledge about flying. Unfortunately, the situation in the industry right now dictates that they need more pilots at the regional level, and the only way to get them is through lowering minimums. Ideally, minimums should stay at the 1000 hour level, but whether or not that is realistic is a whole other matter. Just out of curiosity, would it really be likely that the FAA would offer waivers for airlines to hire under commercial minimums? It also seems to me that we're decently far away from reaching that point. I foresee regional wages rising in order to attract more pilots (although I'm always skeptical of my own thoughts like this because I really don't trust management to make that decision).
Yes money certainly "is really number one," but keep in mind that incidents and accidents that are the result of an inexperienced or under-trained pilot are extremely costly to any airline - and especially one who has hired a bunch of guys with less experience. Safety and cost do go hand-in-hand, but whether the guys who run the airline realize that, I'm not sure.
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I'm going to take this opportunity to also say something else along similar lines. Many people say that we should be getting turboprop time before we move onto the jet. I agree with that point entirely. In an ideal world I would instruct until I got to about 1000 hours, when I would move onto a turboprop. There I'd gain some more experience, and then move up to the jet. Unfortunately the airline world has changed, causing there to be fewer turboprop regionals out there and more jets regionals out there. So when I apply for jobs at the regionals, I will probably get a call back from one that operates turboprops, and two or so that are solely jet operators (I'm being optimistic). So just by sheer numbers, there are more jet options out there for everybody to take (that's not to say the turboprop operators aren't looking for pilots, though). Furthermore, if I can choose between the turboprop regional and the jet operator, I'm going to choose the jet. Why would I make myself less marketable as a pilot in comparison to my peers? I wish the situation didn't dictate that I need the jet time over the turboprop, but it does. Many say that turboprop time is equivalent to jet time. I'd say it should be, and may be in many instances, because the mechanics of the engines are so very similar. But I'd rather err on the side of my resume looking better with the jet than mediocre with the turboprop (no offense to you turboprop guys and gals out there). I'm going to leave it at that....I apologize for the bit of a rant. Feel free to rip it apart - I'm sure there will be a few.