All things considered: Age 65, Oil, Economy, Airline mergers and inflation.
I could easily be 5 to 10 years before the industry gets to the point of hiring again at a steady rate. There will be thousands of laid off pilot who will give up eventually and open opportunities to others but it will take a while.
I'd like to think that if Alaska Airlines were to call me tomorrow I would at least go to ground school. However I must admit that it would be difficult to condition myself again to accepting abuse from a corporation. I have become spoiled over the last few years. I haven't had to get up before 6:00AM in years.
In any case this downturn could be the worst event to ever hit the aviation industry. Few jobs will be safe. The game table will be totally different in 10 years. Hope for the best but plan for the worst.
SkyHigh