Commander,
"will the lower point of wages carry on going downward or is this an all-time-low? Are there other operators practising this?"
I think the answer to your question depends on if the company gets enough "qualified and experienced" pilots to suit them. It seems to me that the whole issue of pilot compensation is a supply and demand thing. As long as there are more pilots than jobs there will be downward pressure on pay/benefits/conditions.
If the company gets flooded with applicants with suitable qualifications then maybe the pay will go even lower.
I've noticed that in my own case, as more and more pilots have become available on the A320 contract market, rates have fallen through the floor. Some current contract rates for captains pay less than f/o rates of 7 or 8 years ago.
Until or unless the supply of people willing to work/fly for the rates offered falls off I doubt very much that pay will generally increase.
This is not a criticism of the people flying for the lower pay. Its not a suggestion that people "hold out" or pressure others from accepting the lower compensation. This is the reality of the industry and our profession.