Lost decade 2.0?
#1
Gets Weekends Off
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Joined APC: Mar 2018
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Lost decade 2.0?
As someone who hasn’t been in the industry for a downturn, I don’t have much to compare this to. Are we looking at another lost decade here? I know there were a lot of factors that contributed to it last time, but if what I hear is right, this drop in passengers was quicker, deeper, and slower to recover than 9-11
#3
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Joined APC: Oct 2019
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As someone who hasn’t been in the industry for a downturn, I don’t have much to compare this to. Are we looking at another lost decade here? I know there were a lot of factors that contributed to it last time, but if what I hear is right, this drop in passengers was quicker, deeper, and slower to recover than 9-11
#5
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Joined APC: Feb 2020
Posts: 498
Reasons like this is why you go to the carrier you go to a carrier you wouldn’t mind being stuck at instead of the one who has the signing bonus or quick upgrade.
#7
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Joined APC: Dec 2011
Position: A320 FO
Posts: 843
As someone who hasn’t been in the industry for a downturn, I don’t have much to compare this to. Are we looking at another lost decade here? I know there were a lot of factors that contributed to it last time, but if what I hear is right, this drop in passengers was quicker, deeper, and slower to recover than 9-11
U.S. passenger traffic will recover faster than international. IATA’s 5 year prediction to return to 2019 numbers globally is probably reasonable. Remember the lost decade was exacerbated by age 65. Provided they leave the retirement age alone and the global Ponzi scheme falsely marketed as capitalism doesn’t collapse this should be a lost half decade.
#9
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Joined APC: Jan 2016
Posts: 268
The economic damage caused by the pandemic is somewhat unusual in that it seems to be disproportionately affecting lower- and middle-income families, especially those working in the service and hospitality sector. Higher-income people (and those that can afford to travel) seem to be less affected. At least for now. This may significantly influence how fast recreational travel comes back. If I had to guess, I'd say that leisure travel will be back to somewhat normal levels in two years.
I have been working as a airline pilot since 2001. The decade from about 2002 to about 2011 was an extremely rough time for airline employees. Statistically, the airline industry as a whole lost nearly 25% of its workforce during this decade. Not just pilots, but rampers, mechanics, flight attendants, and customer service agents. Improved automation may have contributed to some of this decline, but the majority of the staffing reductions were due to outside economic forces.
I have been working as a airline pilot since 2001. The decade from about 2002 to about 2011 was an extremely rough time for airline employees. Statistically, the airline industry as a whole lost nearly 25% of its workforce during this decade. Not just pilots, but rampers, mechanics, flight attendants, and customer service agents. Improved automation may have contributed to some of this decline, but the majority of the staffing reductions were due to outside economic forces.
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