I wouldn’t claim to be an expert, but I am an airline pilot who remembers the last 3 downturns (1990, 2001 & 2008) - none of which were remotely as bad as this one. Every time the industry hits hard times it takes years for the job market to recover.
Why are CAE advertising exciting opportunities to ‘make memories that last a lifetime’? Because they are a training provider selling a product, and they want people to buy their product. Whether or not anyone finds employment afterwards is not their problem.