Just had a very interesting dinner with someone who shed some light on where all this is going. In short, it's a last attempt grab at reducing operating costs to make the margin between costs and profit as large as possible. This will enable a sale at the highest price possible to whatever mainland or other investor/airline that will then inherit the disgruntled and fleeing pilots. They have planned this to a "T". From the hedge to rape the cash from the war chest. To the "perceived" crisis that enabled shrinking management by a third and widening the gap between costs and revenue. This profit when realized, will drive the sale price to it's Max. All this, while the foundations shake from the instability and unrest that lay beneath the balance sheet. Within a few years swire will be nothing but a memory. So any concessions given will result in no repayment or promises kept. The trainers are training the new cost base that the new owner will expect will be the base line from this point forward. If shrinking the airline is what's needed to achieve the same profit margin and artificially raise the sale price then that is what will happen. Any concessions pilots give will only further play into this plan. You have been warned... Don't just walk away.... Run.