Reading between the lines, I'd say that a furlough is definitely in the future here for the junior guys unless we get some new business. How many furloughs? Well, how many pilots did UPS plan on retiring before the age 60 rule change? There's the answer. When UPS continued to hire through 2007, they were accounting for hundreds to retire in the next few years.
Now add the fact that the three-man airplanes are going away, and I think it is safe to say that we are soon to be wayyyy overmanned (unless we get some new business with the DHL contract).
Finally, although I didn't see the presentation in ANC last week, I understand that the infamous 'slide' dealing with furlough strategies was referenced to explain what to expect in case the DHL deal falls through.
Simply put, if the DHL deal falls through, UPS furloughs pilots.