I'm not sure I agree with your assumption that these geezers are so very expensive. The way I see it is the company would have to pay these guys ~$125,000/yr plus benefits to sit at home and watch soap operas and eat bon-bons (i.e. RETIRED).

If they continue to work, the would be retiree is, in effect, donating his/her entire retirement benefit to the company in order to subsidize their continued employment, They are basically paying the company their entire retirement benefit for the "opportunity" to continue to fly hub-turns at night?

I've NEVER understood the logic of this thought process, especially for the pilot that has completed their 25 years and maxed out their retirement (actually, after doing the math, I'm not sure it makes any sense even if you don't have your 25 years).

So ... I suppose (on paper at least) it could appear to the "bean counters" that they are getting the very most experienced pilots at a real bargain basement price (even if they do drool on themselves and wear diapers?). I suppose the real test will be if the company loses any revenue from the ND's going sick in the field, or worse, sick in flight and having to divert.

Personal note ... I think it's sad (maybe pathetic) that these guys don't have anything better to do with their lives after they've earned the very best retirement package in the industry these day. I have some suggestions for them: volunteer at your church or at a local school (GIVE SOMETHING BACK TO SOCIETY), get a hobby (do you like to golf, hunt or fish?), coach a kids sporting team, volunteer to the Civil Air Patrol (you could continue to fly and even wear your Captain uniform to the local general aviation airport, the young kids learning to fly will be very impressed and treat you like an aviation god!) . Or ... do ANYTHING you like to do; travel, spend time with the family, grandkids, build an airplane in your garage, restore an old car or house ..........

Go ahead JETJOK ... flame away