"Cathy Pacific still looks like a nice little number, decent pay and conditions...PLUS the cabin crew bow to the pilots as they board the aircraft so im reliably told...Now thats what i call respect.
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Cathay now have a 'C' scale!! People thought it was bad when the 'A' scale was dropped for a 'B'! There are also long haul operators who employ Second Officers (crusie pilots) who earn less than senior cabin crew!
As for pilot shortages, FR has its full quota of Cadets for next summer so recruitment is off until next year and Direct entry positions are now getting very scarce as people are being promoted from within. Now bear in mind that 32 aircraft are arriving over the winter and 28 next winter. Thats a lot of drivers but the numbers are being met. Also, only around 50-60% of applicants pass the Sim check! That is a lot of people being interviewed, thus there are a lot of peolpe out there with the minimum requirements!
However, I would say that world wide a shortage of experienced pilots is developing - especially a shortage of Captains. Lots of jobs to be had in Asia and India but Western Europe is where most people want to work thus the supply of pilots in the Western market is meeting demand at present. We will know when a European Pilot shortage exists when BA and Virgin park wide bodies due no crews!