Aviation disaster: there are too few pilots. Skyrocketing prices, unattainable air travel
There is a half world disaster in the aviation sector and those who have found themselves buying a plane ticket these days have experienced it on their own skin.
A severe shortage of pilots in the United States has cut flights just as the travel season picks up, which will drive ticket prices skyrocketing this summer, according to CNBC . Given that the work of the airplane pilot is an international job par excellence, this scarcity then has repercussions on Europe and the rest of the world. Outside the EU, especially in Asia, airlines have resumed development and demand after the covid, so we are left to make the earthenware pot among the iron ones.
The origins of the shortage began in the early days of the virus pandemic, when the hiring, training and licensing of pilots stopped. Then airlines forced thousands of pilots into early retirement to drastically reduce labor costs as the demand for air travel increased.
Now Capitol Hill lawmakers are proposing legislation to raise the retirement age for airline pilots from 65 to 67 to extend pilots' flight time as the industry seeks solutions. A U-turn from just two years ago. The regional and low cost airlines are the most affected, paying a little less for the pilots and who, in order to achieve short-term profits, have fired more easily. Now they do not have flights and therefore record even substantial loss of profits.
If we then add the vertical growth in the price of aviation fuel accentuated in the EU even more by the Green Deal impositions, we have the perfect storm. Here is the trend in the prices of jet fuel in the US
So this summer is preparing for a hell of a season for air travel, in which ticket costs will skyrocket limiting the number of people who can move, on both sides of the ocean. A disaster also for Italian tourism which risks having to give up a slice of its customers.
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The article Aviation disaster: there are too few pilots. Skyrocketing prices, unattainable air travel comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/disastro-aviazione-ci-sono-troppi-pochi-piloti-prezzi-alle-stelle-viaggi-aerei-inaffrontabili/ on Sun, 22 May 2022 08:00:14 +0000.