How does a recession hurt the airline industry?
Nov 26, 2008 in
Financial and Loan Tips
Clinton
I just recently landed my dream job with a major airline as an aircraft technician…I don’t start my first day of school till March and I heard that we could slide into a bad recession. Could this have a negative impact on my job?…thank you
I just recently landed my dream job with a major airline as an aircraft technician…I don’t start my first day of school till March and I heard that we could slide into a bad recession. Could this have a negative impact on my job?…thank you
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2 comments
aviophage on November 27, 2008 at 8:26 pm
Sure could. Recession reduces revenues (fewer people can afford to fly) and increases costs (fuel, parts, labor, insurance, financing…).
Airlines do everything on a seniority basis, and the most recently hired people are laid off first.
So be prepared to think of a backup career. Fast Food is the first that comes to mind.
This is all common knowledge.
Just Thinking on November 28, 2008 at 4:36 am
People have less of a disposable income in a recession. Load factors will be down and fuel prices will be up. Many major airlines are starting to contract our work or use regional service to cities where they can to keep costs down. You should be prepared that jobs in aviation are rarely stable. Enjoy your new job, but save money. You should be at least 3 months ahead on all your bills at all times when you works in aviation just in case.