Yes, but I am afraid this is preventable. Airlines must have systems in place to address how they will manage schedule disruption. You would not accept a hospital cancelling your surgery because a nurse called in sick, the hospital is expected to have cover arrangements. This is not rocket science... every day, in every business, arrangements are made for people to be called in from standby, etc. I have a friend who is a pilot for a european airline. He has so many duty days, so many rest days and so many standby days. Standby days are set aside for just such an eventuality. It is therefore preventable... without breaking FAA rules on staff rest time, which are far too lax as they are.
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