How about keep it at 60!!! Trust me the last thing you want is your Grandpa flying over your house in the middle of the night.. Flying the backside of the clock really beats the sh1t out of you, especially those commuters! They are always tired and look about 10 years older!
This change to the rule 60 is BAD news...
This issue has a lot attached to it other than just age.
Age: This is one of those risk-management scenarios. Over 60 can fly corporate, fractionals, part 125, part 135. These aircraft usually have less than 20 people on board, normally only 4 or 5. An airline a lot more. If it is safe for an over 60 pilot to fly an airline, why are they going to require one pilot to be under 60?
Some of the other stuff:
There are a bunch of 60 to 65 year old retired pilot that will try and reclaim their seniority numbers. If successful, this will cause backward movement plus it will cost the airlines millions in training costs. There will be more furloughs and those about to be recalled will have years more on furlough.
As airlines have been getting their financial houses rebuilt the last few years, they planned on expected payroll and retirement cost. If the guys at the top of the pay scale all of a sudden get an extra 5 years, it is going to blow these cost estimates. Same with the retirement funding. The airlines are going to be back in financial hurt and will then demand more pay and retirement concessions from the pilots. In the long run, the pilots will end up with the same life-time earnings and retirement as if they would have had at 60, but it will have taken an extra 5 years to get their.
The FAA probably does not have the power to make an age change non-retroactive. If the FAA acts on its own without congress then it will have thousands of lawsuits against it for loss of income, etc. by those forced to retire right before the change. Airlines will be sued to force them to rehire already retired pilots. Before making a change, congress needs to a pass the law making it non-retroactive and protecting both the FAA and employers from lawsuits.
The big push for ending age 60 has come from older pilots at airlines that lost their retirement in the last few years due to bankruptcy (mostly US Airways and United). These are the vocal minority and they have done a better job at getting their message out than the mostly silent majority. The unions have polled their pilots and for the most part, the majority oppose ending age 60. It has turned into a contest between those who feel their career is being hurt by the greed of older pilots wanting more and older pilots who think they are owed more time to make up for losing retirement value due to airline bankruptcies. I personally can see both sides but feel mostly feel that the industry was built on age 60 with career expectations and progressions tied to it. If you are going to change the age, it needs to be phased in gradually so that the careers of the majority do not suffer to provide a quick economic (retirement) fix for a few. Here is a post from another board I frequent that I find expresses the feeling of the many of the younger airline pilots quite eloquently. The poster is an Air National Guard F-15 pilot, a FedEx FO and runs a airline interviewing prep consulting business.
Everyone has a plan.
Age 65 will completely change my airline outlook. If I am am going to be an FO for 10 years (yeah...I know...plenty of other folks have had it a LOT worse) then the kind of life I want to live won't be covered by salary. That's okay--that's life. My problems are tiny compared to most. I also have other things going on offset that loss...
UAL78 and host of others like him....I know losing retirements, Chpt 11, and a host of other tragedies have been awful for you and your generation of pilots. However--this is zero sum game. For you to "win", I will "lose". It it out of my hands, and I hold no personal bitterness. It will, however, cause ripples in our industry that will be interesting to see.
First--I think those guys who have successful careers outside their airlines will give them a lot more attention. Junior guys faced with stagnate growth that have ANG/Reserve ties will do what they can to get more points and perhaps even try to get some active duty type (AGR/TAR) jobs. Fact is I can make about as much as a LTC on active duty/orders/AGR slot as I can at my (now industry leading) airline job. I have stiff armed that option because dang it....I like being an airline guy and the associated flexibility and the fun of the different kinds of flying. I'm also senior enough NOW on my seat to hold some (reasonably) comfortable lines. If I was stuck on the bottom--reserve--and facing 3-5 more years of the same...buh bye and I'll see you in a few years when things are better. I can only imagine the frustration of those guys JUST recalled at majors like United and Delta and then being told "hang on...you are going to SIT RIGHT THERE for another 5 years... I think age 65 is going to push some young guys on the bubble out the side door or at least force them to look at other or outside options. I expect quite a few will leave for law school, corporate flying, or other business options.
Again--I was along for the ride in the Gulf War...and I came out okay. I'm along for the ride now too. But I am VERY glad that despite being in the "most stable" airline in the business, I didn't bail out of the ANG prior to 20 years and I kept my skills up in other areas. Just like 9/11, there will be a "pre 65" set of guys who upgrade to captain in 4-8 years and a "post 65" group that took 8-15. I can live with that.
But patronizing "you'll still have a longer career son..." BS just irritates me. If its principle, not money, then why don't you guys who fly as captains at FedEx after 60 (remember--our retirement is still there--you can't cry "hardship") give me the difference in money, then when I'm 60 I can pay you back?
You say "no" because you understand that money NOW is much more valuable than money LATER. So--don't patronize me. You won this round. Enjoy it. Thanks for building us a great industry to step up into. You just get the fruits of it a bit longer than we do. Just don't glare at your F/O who's buried in the real estate section of the paper or reading some investment stuff during cruise. He's just trying to do the best he can with what he's got...