Many sectors of the economy are beginning to see a slowdown due to inflation, prompting recession fears. However, the airline industry is booming. Usually, this would be a good thing, but as we head into the busiest part of the travel season, airlines seem woefully behind in dealing with the unrelenting passenger demand for travel.
How Airlines Fell Behind
Airlines are grappling with early pandemic decisions—that now look like missteps—to aggressively trim their pilot workforce through retirements and furloughs. It’s clear that they overcorrected, and now, there are not enough pilots to meet the full force of this year’s summer travel—even though ticket prices have skyrocketed, and capacity is still above pre-pandemic levels.
