This is simply disastrous for anyone who committed his or her life toward a career as a pilot. The majority of people do not understand all the years of flying, training and money that are invested. Dh has been downgraded in seniority and in aircraft, and his salary and benefits have been cut several times.
This topic makes me sick, but it is our every day reality.
It's that "creative destruction" of free market capitalism. Pilots are not alone -- e.g. there are all the IT folks whose jobs are going to India.
But the airline situation is particularly bad, since they tend to go on and on in bankruptcy zombie land for ever, instead of winding up the business, selling the assets and discharging the employees to either obtain work with another airline or make a more drastic career change.
Fewer pilot jobs, but those few that will remain will pay well, albeit not as high as Delta's Captains make. Average salary at UPS (client of mine) right now is $175,000 for 60 hours per month of work. I would love to have such a job but my vision is awful!
I know a pilot who went from flying military aircraft and right into flying for UPS. They pay pilots a very decent wage.