I don't think it will make any difference for people planning to leave the company.
4.5% on the basic = appr 2.25% on total salary. >15% inflation...15-2.25= 12.75% salary decrease.
And I have great difficulty seeing how it will attract the number of pilots that we need in the near future even if we are aiming lower when it comes to quality than our competition.
I guess they're betting on that they will manage with the numbers that we have until next year and then increase the package if it is needed.
Dangerous game though...