No, this is completely wrong. If flying is cut then you reduce the number of pilots or cut the hours. You do not reduce pay. How this could be acceptable is beyond comprehension. We fought to get pay in this industry back up. You will not recover from concessions as fast as the airlines will.
They will be making record profits in the future on the backs of the working crew. That is why we here in the USA have held the line on concessions. No pay rate reductions.