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renegotiate... pants down... bent over... hot steel...
Had the union refused to concede the funds in your story, your buddy would be unemployed.
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Now you're getting somewhere. So the union was helpful to the workers how, exactly? They couldn't protect the pensions of the very deserving (and apologies to Jim727 if he thought I meant they weren't) pilots. They couldn't protect their jobs either of course, but that's no surprise.
Why should a pilot--or anyone else--believe a company OR a union that blows defined-benefit smoke up their ass? What possible use is a union in an industry as cut-throat as airlines? They can't protect their members and their bargaining strength has a direct correlation to the likelihood of the airline going belly-up!
So who's most to blame: the unions who promise but can't deliver, management that negotiates contracts they know they can't honor because the union demands them, or the workers who work for this broken beast, see it from the inside, AND STILL INEXPLICABLY TRUST THESE TWO ENTITIES TO KEEP THEM OFF FOOD STAMPS IN RETIREMENT!?!