There IS no pilot shortage, nor will there be for the foreseeable future. Kit Darby made a fortune peddling that lie for decades. It still hasn't happened.
There is a shortage of pilots willing to work for what regionals are paying, in addition to the coming shortage from having few aspiring pilots in the pipeline.
NJA may very well find itself in the same position as regionals are in now. It's not only about the money, but also about QOL and job security, both of which are in question with the current EMT.
There are at least two possible failure scenarios I see. The first is that Harry Handjob obliterates more relationships with remaining vendors and makes it impossible for NJA to do business. We can't have our own FBO at every airport in the country, and when Signature, Landmark, Atlantic, etc has had enough of his shenanigans, we'll find ourselves without the ability to do business.
Second, pilot staffing. We all saw the article about NJA having 1000 applications on file and the interview / quote from the pilot who hasn't worked there since 2009. Compare that to the draw of any of the Boeing or Airbus operators. At some point the quality of newhire coming in will drop. This will inevitably lead to a lower quality experience for our owners, and at some point may very well contribute to an accident when we've had to lower our minimums to attract the quality pilot our company requires.
G4, your fear of the union is unfounded. The EMT has set forth a course that will put NJA out of business. Our negotiations are more complicated than any in recent aviation history because we are tasked not only with preserving the profession, but also preserving the company. This is close to Eastern Airlines Part II, except instead of a labor hating intelligent business man at the helm, we have a labor hating attorney at the helm who isn't qualified to run a 7/11.