This will be most attractive to those who are approaching 65 and who were intending to only stay another 1-3 years. Depending on the number of years of service the tax breaks may be enough to get them over the line. $4758/year for a 40 year employee works out to be $190k tax free. Will that be enough? Time will tell.
Ps those who have been saying 'Im just waiting for a redundancy, then I'm going to retire', time to put your tax free money where your mouth is
I'm not sure there is much of a tax break for VR .........
ALAEA Fed Sec may be able to shed some light on that.
The only way to settle this mess other than the obvious is to offer VR and hope that enough take it, at least this will give the junior pilots some relief and hopefully a future. The trouble is the cost and what would be the cheaper, all the training costs
plus having to make some compulsory redundancies to get the numbers right, or bite the bullet and have VR? My bet is the former.