Newcomers who created record demand—and havoc—over the past two years are returning to the commercial airlines.
for 17 years. “It has been crazy over the past few years—the fleet was so overworked. It wasn’t set up to handle this kind of demand.”
Foley thinks the industry may come “back to earth,” with nearly 90 percent of the newcomers returning to the commercial airlines. “We’ve not only seen the foot come off the gas with these people, but the brakes are being tapped,” he says. “The catalysts for this change have come in the forms of sagging stock and bond markets, inflation, rising interest rates, reduced virus anxiety and the looming threat of a recession,”
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