A COVID recovery?

Propelled by pent-up demand and fundamental changes in the way people are viewing the advantages of on-demand, fractional, jet card, and other shared-ownership business models, travelers—especially business travelers—have avoided the airlines in droves. That’s certainly understandable, given the downscale ambience and Greyhound-level horrors we’ve all come to know. Yes, you’ll get where you’re going, but don’t expect much more. Still, airline revenues are up, meaning more flights and an unprecedented demand for pilots.

Airlines are offering signing bonuses and higher pay to attract new blood to the ranks, which have been depleted by retirements—and vacancies caused by COVID infections. Across the board, airline pilot hiring hit 600 per month in late 2021. American Airlines alone was expecting to hire 80 pilots per month as of this past January. Just how badly do the airlines want new pilots? Regional airlines are offering signing bonuses of $20,000 or more; the majors can ante up to the tune of $150,000 in retention bonuses.

Just how badly do the airlines want new pilots? Regional airlines are offering signing bonuses of $20,000 or more; the majors can ante up to the tune of $150,000 in retention bonuses.Don’t want to fly the airlines? Then consider turning to private and fractional alternatives, which are also in dire need of new pilots to fill the growing market. Prospects have never been better. There are even stories of qualified pilots paying their own way through type rating training, knowing that if they’re hired the outlay will pay off. Those with a keen eye on international flying ought to know that market analyst firm Argus International is saying that 2021 kicked off with a 32-percent increase in global business jet flying.

Airplanes like Bombardier’s Global 7500, and the upcoming long-range Gulfstream G700 and G800, will need to bulk up their crew staffing, and as soon as the simulators and other training materials are brought online, the first few pilots will go through G700/G800 training. Feeling an itch to see the world? Now may be the time to sign up for a course. It would mean a $160,000 investment in your future, so hopefully you can sidle up to a flight department willing to pay. That, or fork over your own money on spec. It may drain your 401(k) dry, but last I heard the daily rate for pilots flying global routes is around $3,500.

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