The requirements for the early out are 45 years old with 15 years of service. It's not so much an early retirement incentive as it is an early "get the hell out and do something else where you can make more money" incentive. Sure, for those close to retirement, it's found money that will give the kick in the pants to just retire already and for those who are 45 or older, but not ready to retire, it should serve as a kick in the pants to prepare the resume and find a higher paying opportunity.
It's your future, not mine, but IMO, you'd be crazy to stick with the airline industry. UPS has just 1,000 very highly paid AMTs and WN has fewer than 3,000 and neither is hiring in huge numbers. As I pointed out the other day, find something that needs fixing that's owned by a monopolist, not in a highly competitive industry where nearly everyone files for Ch 11 periodically to slash wages and benefits. Municipal transit systems don't have any competiton. Public utilities. Even local car dealers don't tend to file Ch 11 very often. Although the Ford or GM dealer doesn't offer standby flight benefits, they do offer employee discounts on new cars and trucks. And with the additional income, buying confirmed tickets would be easier.
Keep an eye on one another and be there for your friends, as it is a very difficult time. Best of luck to all.