U.S. airlines cool hiring after adding 194,000 employees in post-Covid spree [MSNBC.com]
Spirit Airlines, Inc. (SAVE)
Last spirit airlines, inc. earnings: 2/5 04:14 pm
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Source: MSNBC.com
U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. Now the industry is cooling its hiring.Airlines are close to their staffing needs but the slowdown is also coming in part because they’re facing a slew of challenges.A glut of flights in the U.S. has pushed down fares and eaten intoairlines’ profitsarriving lateBoeingAirbusrethinkshort supplydeferring airplane deliveriessigned new contractsAnnual pay for a three-year first officer on midsized equipment at U.S. airlines averaged $170,586 in March, up from $135,896 in 2019, according to Kit Darby, an aviation consultant who specializes in pilot pay.Since 2019, costs at U.S. carriers have climbed by double-digit percentages. Stripping out fuel and net interest expenses, they’ll be up about 20% atAmerican AirlinesUnited AirlinesDelta Air LinesIt is more pronounced at low-cost airlines.Southwest
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