Hi there. I am one of those pilots. This month I am working at 60% of my regular pay. This is voluntary, but seemed to me prudent under the existing health circumstances- fear being an important motivator. Had I not chosen this option, I would still likely see less income for the reasons you state.
The annual income figure you've cited is inaccurate. Few make more than $300K and I am not one of them despite being in the upper third of the seniority list. This level of pay has also been the exception, rather than the rule for my entire 25 year career. Google "lost decade for pilots". I worked for more than a decade at a major airline and made less than six figures during those years, lost my pension and ESOP shares and this all occurred during my most productive years of labor from a time value of money perspective (all that remains for our retirement anymore is 401K style funding) . It only got better in the last 7 years and now it is likely to sour again- at least for a few years.
I get it. Everyone hates the airlines. The CARES act was intended to help the companies make payroll. So while management made the decisions about stock repurchases, the employees were not in agreement and suggested investment in the company as an alternative. However they manage, we fly.
In the next decade, our entire pilot population will lose 50% due to retirements- up until CV, the shortfall was a great concern. Things will get better but may take a couple of years when the shortfall becomes a concern again.
