If this LOA passes, here are everyone’s takeaways:

Company - They can violate the contract at will, drag it out in court, and at the last possible moment throw out a bone to the MEC. The MEC will send it right to the membership for ratification, and even help sell it as a great deal with no downsides. Not only will the pilots settle for a small percentage of their actual damages, they’ll also vote to change the contract and let the violation continue indefinitely.

MEC/NC - The company will open with a low bid, and stay low. Don’t expect to gain more than about 1% even after a years worth of negotiations. When the company says something is off the table, believe them. Even when the pilots say no, they mean yes; they just want reassuring and maybe an extra one percent so they can feel like they are in control.

The membership - Always vote yes for the first offer. By the time it goes out for ratification the MEC has already decided there are no crumbs left to ask for. A no vote will not lead to a better offer.