As the holiday travel crush approaches, there's a potential crisis for America's airlines: They're facing a very serious shortage of pilots. And new regulations make it tougher to hire more of them. The airlines are facing the worst pilot shortage in half a century, with higher experience requirements and retirements largely to blame.

To keep airline ticket prices low, airlines have cut into pilot salaries and benefits -- so much so that aviation experts say that the "glory days" of being a pilot are gone, and now fewer people are interested in flying for a living.

Even though commercial airline cabins may be getting more crowded these days, it's another story in the cockpits. Federal Aviation Administration officials and airline experts say in just a few years, airlines will be running short of qualified pilots...

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