Seems like just yesterday, there was talk about a pilot shortage, and now there is concern that there may not be enough jobs for those who are qualified pilots. Not funny.
In 2018, global passenger trip demand was predicted to be 7 billion annually by 2035. The forecast requirement was for an additional 637,000 additional pilots and 648,000 technicians globally. While Covid-19 is going to put a big dip in upward demand, overall, it will be temporary. I think we are looking at a vaccine or finding an existing or new drug which minimises symptoms before we see travel return to being discretionary. But while the virus kills, it isn't going to impact long term global population growth which is what drives overall demand.
Commercial reality will, mean that there will be rationalisation within the airline industry. The weak will go to the wall. There will be less choice, for a while anyway. We will necessarily end up with Government intervention and part nationalisation of some airlines until the market recovers and Governments can offload their shareholdings for a profit. Some pilots will have flown their last flights. Most will fly again. Market forces will be tough on our terms and conditions in the short term.