The pandemic heated a simmering pilot shortage to boiling point, leaving U.S. airlines scrambling to hire enough pilots to get flight schedules back to full capacity. The shortage is expected to limit capacity growth, and be a factor in higher ticket prices.   U.S. airlines received billions in government loans in 2020 to make payroll as travel restrictions, put in place around the world to curb the spread of the novel coronavirus, caused a sharp decline in bookings.  The airlines went into cash-conservation mode, especially when they were in between the two tranches of government loans. The carriers cut down on capacity and implemented hiring freezes and cost-cutting measures. Crucially, they also offered their pilots, among their highest-paid personnel, incentives to retire early.

Former commercial airline pilot and expert on the aviation industry MIKE HATTEN joins Hal and Brian.

See omnystudio.com/listener for privacy information.