What you described is free-market economics. Competition is good, healthy, and needed to eliminate the bad / poorly managed business, the flawed business plan, etc...

Why should Branson pay more than 60K - if pilots are willing to work for that amount? Put yourself in his shoes..If you were a CEO - you'd pay your pilots 150K a year and destroy your cash reserve / company..All so your pilots made a six figure salary...

-LA