What Pilot Shortage?

Matthew C. Klein on Bloomberg sums it up in one awesome sentence.

If airlines want to replace their aging corps of experienced pilots and continue serving second- and third-tier cities, they are going to need to boost pay and raise ticket prices. Alternatively, they should ditch unprofitable routes. At least that strategy doesn't require making up stories about pilot shortages.

For further reading, check it out from an Insider's Perspective.