Airlines were struggling to hire pilots fast enough before the pandemic struck. It is time to clear the boomers for takeoff. Cost basis and return based on previous market day close. And that's a great concept that at a certain point you're allowed to take a special status. And all the work he did in those 20 years was wonderful. Its complex to assess ones complete capabilities, and when we arent sure the best way to do that, we tend to use age as a default, Applebaum said. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The person flying a plane needs to be both mentally and physically up to the task. More instructors are required. Why give that up? If doctors (arguably members of the industry most qualified to make this call) are not mandating a retirement age, why is anyone else? 0000005337 00000 n Air travelers just endured another weekend of widespread flight delays and cancellations. 0000093820 00000 n 0000020621 00000 n Gitt was relentless in his research regarding the Age 60 Rule and he believed that he had found a new potential weapon to continue the pursuit of his dream as a pilotthe recently passed Age Discrimination in Employment Act of 1967 (ADEA). Although the medical argument was used again, the driving force was really to stretch the earnings of pilots who had been adversely affected by airline bankruptcies. He points out that even though the airlines received $50 billion in taxpayer funding to keep employees on the payroll during the pandemic, many of them gave pilots generous early retirement packages, including partial pay, benefits and other enticements. When asked recently about increasing the mandatory retirement age, United Airlines CEO Scott Kirby said he doesn't think it's a solution, telling CNBC that "at United, of our age 64 pilots, 36% of them are unavailable to fly on a given day for sick, short-term or long-term medical" reasons. Replacing all of these retiring pilots won't be easy. Beyond the friendly skies, pilots need an age-friendly industry: one that continues to mandate safety while still valuing age and experience, retaining those pilots who have reached 65 but have still been found to be healthy enough to fly while parting ways with those who have not. He later fulfilled a lifelong dream, earning his glider pilot license and making several flights in a Schweitzer SGS 2-33 Glider.
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