I see it as a fundamental lack of good leadership. I can't say to my employees, "You do the work and I take all the profit." It's neither ethical nor moral. I'm pretty sure the executives saw it coming though. You can't be increasing your own wages and cutting everyone else's and expect folks to sit back and say "ok, fine with me." If that's the way management sees it, they can go and fly all 700+ planes themselves (after getting the appropriate ratings and certificates of course).