This supply and demand debate does not hold any water whatsoever in arguing pilot pay. This is why Airline management make so much effort to splinter pilot groups. The biggest factor in Pilot pay is bargaining power. If Pilots are united management are aware that we can sit aircraft on the ground and that will cost a hell of lot more than the underlying dispute.
The disappointing fact is we are not united in Europe and we therefore allow pay and conditions to be hammered.