BTW, I explained the value of a fixed term contract on another board just a while ago. I'll quote it here:
Quote:
My best guess is that the contract is time limited to protect the company in the case of an industry downturn. The company is obliged to pay you minimum guarantee for the life of the contract whether or not there's any flying for you to do. A five year contract is kind of a catastrophic stopgap so that the'y don't have to pay you guarantee until you die. Since they'd have to furlough in reverse seniority order, what this means is that the first to go would have the most to gain in terms of guarantee pay, since presumably they'd have the most time left on their contracts. This makes them very expensive to furlough. This is as good a method as any of providing a de facto no-furlough clause. So in a sense, the 5 year limit protects both parties.
It's not a perfect system, but it's not a bad one either. There's more going on here than you seem to be aware of.