💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

More than half of world's airline pilots no longer flying: survey

Published 01/28/2021, 11:06 AM
Updated 01/28/2021, 11:10 AM
© Reuters. FILE PHOTO: Pilots talk as they look at the tail of an American Airlines aircraft at Dallas-Ft Worth International Airport
CPCAY
-
SINGY
-

(Reuters) - More than half of the world's airline pilots are no longer flying for a living amid the plunge in demand during the coronavirus pandemic, according to a new survey, and those that are still flying feel less valued by their employers.

A poll of nearly 2,600 pilots by UK-based GOOSE Recruitment and industry publication FlightGlobal, released on Thursday, found only 43% were doing the job they had trained for, with 30% unemployed, 17% furloughed and 10% in non-flying roles.

Many pilots that are still flying have faced deteriorating working conditions. Hong Kong's Cathay Pacific Airways (OTC:CPCAY) Ltd, for example, instituted permanent pay cuts of up to 58%, and Turkish Airways and Singapore Airlines (OTC:SINGY) Ltd have temporarily lowering salaries.

"We can see the effect the pandemic has had on employed pilots too," GOOSE Recruitment chief executive officer and founder Mark Charman said in a statement. "Large numbers are feeling insecure about their jobs, an increased number are planning to look for new roles this year as well as many feeling less valued by their employers."

For the unemployed pilots in the survey, 84% said it was due to the pandemic. Before COVID-19 hit, there had been widespread pilot shortages that had driven up demand for aviators and led to improving pay and conditions.

Now, 82% of unemployed pilots would take a pay cut for a new opportunity, the survey found.

For those that have kept their jobs, pilots in Europe reported being the most stressed by COVID-19, with respondents citing the risk of catching the virus, disjointed rules and the possibility of being placed in quarantine during a rotation as among their concerns.

Forty percent of pilots said their mental health had been affected by the pandemic, with the figure higher among younger pilots.

© Reuters. FILE PHOTO: Pilots talk as they look at the tail of an American Airlines aircraft at Dallas-Ft Worth International Airport

"The amount of stress and anxiety the pandemic has caused me has permanently scarred my outlook on life," one surveyed pilot said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.