Knows - if done unilaterally, without consultation and agreement, it's ethically as wrong as what the VC are doing at the moment. When a company has financial problems, it's normal for it to ask its staff to take paycuts - in preference to layoffs - but then that lost pay needs to be restored in full.
Carnage Matey - solicitors (at least top commercial ones) and especially barristers undergo considerably more training - and are, quite frankly, considerably more skilled, than your average pilot.
Incidentally, I understand that Inland Revenue classifies pilots as 'semi-skilled'!!