EUR still making record highs along with Oil.
GBP back up
US Dollar index at a record low
So more paycut today, higher inflation, and recession now confirmed.
The airlines will not announce any payrises until the last possible moment. As the USA is now in recession they are banking on the pilot market contracting and therefore little need to be too generous with any salary increases.
Who knows, if the market contacts fast enough, they may not need to give any payrise at all. No-one will quit in a rush if there is nowhere to go!
In recession, top of the list on things to economise on are the annual holiday and any avoidable business trips. Lower loads, tighter margins. Pilots a dime a dozen.
This is not looking good if you are in the airline industry.