That's my point - or at least my guess. I think the era of bypassing upgrade is going to fade - at least for a while as pilots who might have been holding out to get one more decent round of vacation, or waiting for the kids to graduate, suddenly realize they were locked out of the left seat (and associated pay raise) for much longer than they planned. So I (again guessing) foresee a scramble to the left seat and a bypass list that shrinks considerably.

Which is fine of course, were it not for the anemic rate of retirements over the next 5 years or so.

If there truly is expansion coming out of the back side of this thing, great. But I think even pre-Covid as we pushed past 10,000 pilots a lot of pilots were thinking, "I wonder how many pilots they ultimately want to have on property when the music stops?"


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