Not to dispute Aussie027 but just to correct a couple things:
Half the major/legacy carriers are still in Chapter 11 bankruptcy protection
In fact, there are currently no major carriers in bankruptcy.
The other half of these carriers have emerged from Chapter 11 and re calling furloughed pilots as well as hiring new pilots off the street.
None of the carriers that went to bankruptcy (NWA, USAir, UAL, DAL) are yet hiring off the street, they are still recalling furloughee's.
have taken 30 to 50% pay cuts as well as losing all of their pensions and many other benefits since 9/11.
They have lost most their pensions, but the pension benefit guarantee will pay some. Also, even with the 30-50% pay cut, pay is about equal to Qantas pay. NWA didn't lose their pension in Chapter 11.
During this recall, there have been a large number of pilots who have not accepted recall to their previous companies
This is true, but the way it works is when you are offered recall you can go on bypass. You maintain your seniority and can come back anytime you want. The company offers recall in seniority order. Once they get to the last guy, they go in reverse seniority and offer recall to those who bypassed. At this point you have to either accept recall or resign. So it is unclear how many will come back after the 2nd recall. In UAL's case, abou 1/3 are accepting and 2/3's are either resigning or going on some kind of leave.
Despite the fact that management could simply raise the price of a ticket from $1-$3
It isn't that simple. Carriers often try to raise ticket prices, simply to have to reduce them when others don't match. There is a point that they lose market share when they raise the ticket. Also, with the cumulative losses in the billions they need to raise the prices just to make a profit. I am sure they won't just give it to the pilots.
Do not bother about converting the currencies as a dollar here buys the same if not less than a dollar in Australia.
Not true, your dollars go a lot further on day to day living in America. First, the tax system in Australia eats it very quickly. Also, because you can fly for free on any airline's jumpseat in America, commuting is much more feasible and likely. This way, you can live in a lower cost area and commute to work. You don't need to buy a house in Los Angeles or New York, which are comparable in price to Sydney. Also, there are a lot more medium sized cities in the U.S. where the cost of living is great. I left the U.S. after furlough from United where I had lived in Wisconsin and flew out of Chicago (2 hour drive). I had a 6 bedroom house, 4 car garage, 10 acres and I sold it for $189,000. When I got to Australia I couldn't touch a house in Sydney and ended up paying $450,000 (The Sunshine Coast) for a 600m2 block of land with a 4 bedroom house 1/3 the size of my Wisconsin house. The car I sold in America sold for $22,000 the same car in Australia cost $72,000. Health care is cheaper here though.
Anyway, although jobs are a bit hard to come by now, the industry is very cyclic, especially in the U.S. and times will be better again. When I got hired at United, they hired over 4000 pilots in 3 years and in my 2nd year I was an international B-767 f/o making about $135,000 per year basic salary. B-747 Captains were on $300,000 per year. Don't let management convince you that times are different forever.