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Why under-40s deserted the airline industry, causing global delays

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For months the world has been gripped by airline and airport delays. Now the reason is clear – workers under 40 have deserted the industry. But where did they go?

The airline crisis that has disrupted flights and travel plans of millions around the was caused by a massive staffing crisis.

Airlines have been forced to scrap thousands of flights as airports cancel schedules and ask airlines to cut back on flights.

Now there’s more data about exactly what caused it.

In Europe this summer, the staffing crisis was predominantly caused by younger workers who left the industry during the pandemic, with no plans to return.

Only about a third of the EU’s air transport workers were aged under 40 in the first quarter of the year, which is far lower than the number working before the pandemic.

The numbers who just how serious the task is for airlines to lure back workers to overcome massive delays.

The aviation industry has been caught flat footed this year, as millions return to the skies for so called “holiday revenge”, making up for lost time abroad over the last two years.

Many of the younger workers were employed as cleaners, security and ground handling.

But those hours are also unsociable and often low paid. Meaning workers who left the industry did so for bigger reasons than just the pandemic shutdown.

And now they’ve had time to think about why.

Long delays at airports around the world.

Hiring the air-side roles is made harder by requirements for extensive training and security checks which take time, so candidates end up looking for easier work elsewhere.

“Fundamental changes in the business model have to occur for aviation to remain a competitive career option,” said David Huttner at PA Consulting Group Ltd.

“The industry has always been susceptible to staffing issues within key skill sets, but not at this level.”

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Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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