Just me guessing...

I think the reason the BOD voted 20-0 is because the E&FA committee was able to show that number of potential furloughs has increased significantly.

The E&FA committee said during the zoom call that break even cost on furloughs is no longer 18-24 months.
I’ve heard a very good argument that with ability to do a displacement bid before hand, it could be as low as 9 months.

The Passenger loads are stagnant and not showing enough improvement to support the more optimistic pilot forecast numbers published in June. Therefore, the number of pilots required has been revised down. This is also supported by SAC on BTL.

Without a CARE Act 2, I think ALL 2500 are looking at a furlough. Hence the 20-0 vote on a sub par LOA.