When you read the contract and you are paid by the hour "Air Time" I'm sure the boss/board/shareholders would much prefer you get an extra 3hr of airtime.
Regardless of what the Company pockets, I was under the impression that the new contact did not include any additional flight pay for the crew? I highly doubt they will drag it around for an extra couple hours just so management can give themselves a pat on the back in between circle jerks.