Matthew C Klein, Columnist

Pilot Shortage Is an Airline Fairy Tale

Regional airlines say they can't afford to hire pilots to fly their planes.
Does anyone know how to fly this thing? Photographer: Ben Nelms/Bloomberg
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Airlines sell a commodity and buy from monopolies, i.e., the airports that provide landing rights. So it isn't surprising they have such a tough time making money. Now they have another problem: There aren't enough pilots and co-pilots willing to work for the low pay offered by regional carriers.

Airlines call this a "shortage" and blame a recent rule from the Federal Aviation Administration that mandates co-pilots have at least 1,500 hours of flying experience, up from 250. At the margin, the rule does reduce the number of people qualified to serve as a first officer on a plane, but that doesn't mean there is a shortage.