No buyout. Increases pension obligations. Buyouts only make sense when you have NO pension and you can replace the bought out person with a lower paid person. Not the case with pilots for several reasons.

The longer a pilot works before retiring the pension obligation is reduced. ON AVERAGE. Denial of one's own mortality makes a majority think they will live longer than average. By definition that's impossible. Whatever the average ends up being the majority cannot end up on the right side of the curve.

Consider if the retirement age was removed. No upper limit. Many would work until the day they died. Significantly reduced pension funding required. Adding 5 to 60 simply indexed the company to a lower pension obligation. Why in the world do you think they would want to index it the other way?

Answer: You are in denial as well.

65 is the new 60.