Originally Posted by
MDT06
With the US dollar declining in value and with no end in sight, do you think foreign airlines are going to increase salaries to attract pilots? Or are there enough pilots taking those jobs? Are contracts better now?
My contract has gone up 10% per year for the last three years and should do at least that again this year. Korean Airlines just saw a pay increase in their dollar demonited contract.
There is good and bad in currency fluctuations. Getting raises to USD denominated contracts to keep the Europeans happy while the dollar plunges is good if you are an American and most of your debt/expenses are in dollars. It gets bad if you are paid in dollars and the airline's currency starts to weaken. During the Asian Economic Crisis in 1997/98 I lost a job primarily for that reason. I was on a contract getting paid in dollars. When that country's currency devalued by over 20% the expats were deemed too expensive to keep.
Typhoonpilot