Delusion
The problem is people have a lot of money in property now since the last boom. My parents genertion made 200k simply by purchasing a house.
It's this that is funding the current situation.
The big schools are all selling a highly desired Product eg your son as an airline pilot. Motivation buy in factors are high. All these people have the desire to buy so the schools can simply name their price.
I think the training industry is subsidising the industry in general and without all the P2F contracts and other revenue generators I think a lot of airlines would be bust.
There have been downturns before, but there hasn't been this game changing flexicrew and TR agreements. So I guess we are into uncharted territory.
When in the next 3-5 years this becomes recognised in society all the youngsters will be queueing up for investment banker courses.
The current situation is unique. The next generation are not motivated by passion they are motivated by money. Especially if it's as quick as possible, hence everyone wanting to get straight into a jet.
Once they realise this isn't going to happen they will turn their back for an easier ride. As believe me they are out there.