That statement only refers to the displacing of a pilot if you are displaced. You can displace another pilot if you have already been displaced based on seniority. Only “or” used in the whole section.

But, lets assume that the contract is written correctly with no loopholes. Do you really trust the guy that had said when we were understaffed and underpaid, “Why should I pay pilots more, if I have more wanting to come through our doors.”
This guy will take money from the pilot group during good times and bad