As an aside, the people who are on furlough from AA right now, IF they go back, will probably have 5-7 year upgrades and get to spend the last 10-15 years as Captains. Someone at AMR mentioned the other day that the union did a study, and the #1 guy on furlough at AMR, if he comes back, will retire as #31 on the system-wide seniority list because of those projected retirements the last 5 years of his career. The bottom guy on the seniority list will retire in the upper 15% of the system-wide seniority list, holding whatever aircraft CA seat he wants in whatever domicile he wants.
Great news for them, for the rest of us it isn't going to really help.
I don't think you can call this "Great News" for the furloughees. I'm guessing the average AA newhire spent anywhere from 5-10 years busting their as#es# at the regionals for downright poverty wages before being hired by AA at about 35 years old with little to zero net worth. Then they spent 10 years or so on furlough. So the story of their 20's, 30's, and half of their 40's is likely one of debt and poor earnings. These are the years that most people are building their net worth, buying homes, etc....Retiring number 1 at age 65 does not make up for 20 years of crap wages. You have very little time to invest your top of scale earnings when you don't start making them until you are 55-60+. Looking from a purely monetary point of view they would have probably been better off going to work as a plumber right out of high school.
Contrast that with a RyanAir pilot in Europe. They spend 50k to get their type, then get hired by RyanAir at 23 years old with 250 hours total time. Pay is 85 Euros per hour for the right seat and 130 Euros for the left with a 5 year or so upgrade. These guys are making over 100k from the moment they join the airline industry. They have already earned approximately 1.5-2 million dollars by the time they reach the average age of an AA newhire. This is the carrier that is the supposed bottom feeder of the industry.
I just don't think the US Airline industry is worth a dam# anymore. We have fallen so far in relation to our peers overseas. IMHO the best bet for a new pilot in the US is to get a job with any decent carrier overseas asap. My .02.