I have no idea directly how it’s interpreted by the airlines. But most company rarely used the word fired anymore as we are in the land of massive law suites. Released or “let go” have replaced the phrase “Fired”. Recently airlines have been rephrasing what they are saying to candidates the do not want. “We are not interested in you”. The new phrase is “ we are moving forward with other more qualified candidates. Giving them more wiggle room. I’d say use sound judgement in the future if you know you were release because the company was about to go under financially but in your Chief Pilots eyes you were a good employee. I would put laid off and have a letter of recommendation from your supervisor at the company as evidence of your status prior to leaving.
unfortunately I was in a role as a Chief Pilot where financial situation rendered terminations. I immediately wrote all pilots a prefabricated letter stating.
To Who it may concern
Pilot XXX was released today from XXX due to circumstance beyond his control. I found XXX to be one of the best pilot I have sat with in a cockpit. Very professional and high experienced and pro SOP. Yada yada yada. ..........
Please contact me for with any questions or concerns.
C.P. Xxx
123-456-7890
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