This is the future for all 'Legacy' carriers.
The LoCos have proved that they can generate huge revenues and profits and can cut the benefits for staff at the same time.
This was why the debacle at BA previously was futile. The exsiting crew terms and conditions are protected and over a period of time the new crew will prevail - if they dont like it they will leave.
It may be that in the near future someone, probably Stellios, will have another go at low cost longhaul airlines and that will move the landscape again.
Welcome to the 21st century of air travel.