Pimco warns Greece will default - Telegraph
Its going to happen.
My estimate, based on looking at the UK schools + Jerez is that there are currently 1,100 people a year training for professional pilots licenses in the UK. easyJet and Ryanair between them have been soaking up 400. Both airline stop expanding their fleets in the next 18 months after which recruitment slows to deaths, retirements and loss of medicals.
The charters need nobody, the freighters are sorted, the Netjets still have guys laid off and BA is static in fleet but has circa 150 retirees a year now, everyone else is fighting to stay profitable or stem losses. The RYR and EZJ stop is going to be seismic.
We also have the end of stimulus and the growth in unemployment to face. Additionally there is a massive crunch in household spending vs real income. House prices continue to head down and with them the prospects of the banks.
The wannabe zombie army is full armed with Parental cash and fond dreams. They bid over >£100k for training.
WWWW