WWW,
At the moment there is a pilot surplus, and with a prolonged conflict with Iraq there are rumours (staff grapevine) that BA would suspend flights from Gatwick. Whatever the outcome (with Iraq) the worse case scenario is yet more pilots in a holding pool for employment.
I think you are right to point at the supply side of things, but as a wannabe it is important to try and track the cyclality of emploment in the industry. Perhaps not an easy task. I was just inquisitive about the current numbers going through training at the moment in light of the current uncertainty. Any ideas?