Originally Posted by
Guard
It's important to remember that in my 50 years we have been here at the Majors 5 times with decent pay and living the good old life only to see it collapse time and time again. Deregulation in 1980, late 1980's when Lorenzo reared his ugly head was probably the worst and change the industry forever, ending Pilot Partnership with Management to "glorified bus drivers" (Lorenzo's own words). Then in mid-90's, 9/11 and 2008. Glad to see everyone doing well but were all one recession or plane into a building for it all to crash down again. Save your money and always always have a plan B!
Well said. Nobody is immune to the next recession. The ONLY saving grace is age 65. The amount of attrition at the top could easily translate into furloughing at the top. Outlook wise, the airline industry is in a very good spot. There will be a bit more consolidation but look at how many airlines have been absorbed in the last 10-15 years. Dozens of airlines are gone and or merged but the demand for flying is high and growing, and everyone is at capacity. But it is all good until it isn't.