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Critically analyze the following statement with views of your own: “There is no substitute for an...

Critically analyze the following statement with views of your own:
“There is no substitute for an airline pilot: Someone has to fly the plane. Therefore, an increase in the wage of airline pilots will not change the number of pilots used by the airlines.” (Answer: 300-400 words)

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Answer #1

Although there is no substitute to an airplane pilot in general , but there are various types of airplane pilots available. There are domestic and international pilots who have varied salaries. Therefore an increase in the wages of one, be international or domestic pilot may affect the demand for him. The airlines would either try and get a pilot from the other segment or rise the working hours of the existing pilots thereby reducing the number of pilots required.

But due to the overall limited supply of pilots, the elasticity with airline companies is low.

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