It's amazing how this thread(and always) got off-track...
Anyway, when I read article, I am really puzzled why the shitty times did not mention or even associate that the so-called fixed-term contract pilots are actually expat pilots. So, nope, there won't be any fire sale on cars and house(perhaps a few but mostly they are on rental basis).
For every expat pilot hired, we can have another 1.5 to 2 national pilot on the payroll. Some of them came and join SIA when they were just bush-pilot before and some do not have even wide-body(it means big jet) ratings. They are on contract basis and not unionised, so off they go and the company deem they are redundant, this is the life of an expat, sorry.. too bad.
But for these people, there are abundance of jobs in the middle-east as well as the low-cost carriers, so finding another job is really not a very big deal for them.
Well, it's the sign of the times, it's gonna be a rough patch for the legacy airlines.
If a bus license can allow you to fly a plane, then why bother to have a strike and kau bei kau bu, just applied for SIA and continue to be a captain and be paid 10 times than they were drawing.
Cheers!