Why are we not surprised at all this?
UAL (just one example) has, in the past, way overpaid their flight deck crew.
Years and years of mega-buck salaries have now come home to roost.
Example:
A UAL Captain I know retired three years early, and his final salary (B747-400) was $345,00 per year.
His retirement nets him nearly $9000 per month...never mind the very generous cash payout at early retirement.
Multiply that by the thousands of retired UAL folks, and you get the picture.
Yes, you indeed can have a very nice salary while working, but the question remains...can the company continue to pay these inflated benefits in retirement, and still remain afloat?
The simple answer is...it can not.
Not with the lower-cost carriers nipping at their heals.
In the airline business, the gravy train has clearly derailed.