Originally Posted by Transpacificflyer

They will be in decent shape if they are responsible with their savings and expenditures. If we look at just gross income with no deductions for an Ontario employee;
$40,000- After-tax income $32,845 v. $250,000 - After-tax income $153,683 There's more than enough to put food on the table and to pay the utilities, I expect that most should have been able to save at least 10% per annum and can draw down on that for the month that there may be a strike. At settlement, there will probably be an immediate cash bonus that should more than cover the cost of the draw down or short term financing. There would be no need to do a Roy Orbison karoke version of crying. The cabin and ground crews would would be happy to get this.

Let's say they do hit the pavement. I give them a few days at most. The current government is terrified of a strike and the pilots (and airline) will have a hostile reception. Much of Canada's workforce is not unionized (70%+) and the majority of passengers can be expected to be unsupportive.
If ordered to arbitration, we can expect a work to rule campaign and lots and lots of flight disruptions. This would be worse than a strike because the airline will be canceling flights with little notice as pilots come up with sickness and time outs and discomfort with aircraft motives not to fly.