Credit/Debt boom. I've sat next to a 22yr old with £88k of unsecured training loan who had a further £4k on an Egg card and spent the last two weeks of the month living off his overdraft. His £7k of student loan he barely counted as real debt.
Yeah, he was flying a B737-700 an earning a cadet salary.
But even so. That wasn't normal until the last decade. Its the cost of servicing (not repaying) that means that for many qualified Wannabes the old route of a few years instructing then air taxi, then regional T/Prop is a non starter. They'd be bankrupt first.
This access to loose money is what has caused airlines to stop paying for type ratings and to expect the first 6 months work for free.
Tightening of money will kill this stone dead.
Good.
WWW