Should I stay, or should I go?

I love the company I work for, even though it's an airline it's still a great place to work. I have great coworkers and a great job. In December I'll have been with this company for 25 years. Where did the time go?

I've had many jobs with this company, and worked in different cities. I've been given many opportunites over the years to expand my career, opportunities I'm not sure I would have had with another company. My managers always seemed to see something in me that I didn't see in myself.

I've seen this company struggle through some really tough times, including a really bad strike in the 80's, a plane crash in recent years killing all passengers on board (100+), 9/11, and now, the price of oil. This recent event, the price of oil, is definitely the toughest struggle of them all.

This week management started talking about furloughs of union employees and layoffs of management, including IT. They did the same thing about four years ago and offered a very attractive severance package, basically equivalent to almost two years of my salary, and flight benefits. I was very tempted, but turned it down. At that time, it was entirely optional. Only a few poor performers were forced to leave, but were still given the package. Several of my friends took the out and are living happy, successful lives, working other jobs.

It's hard to explain and only someone that has worked at such a great place for so many years could understand, but the thought of leaving makes me really sad. I only give this airline a 50/50 shot at making it (and that's being optimistic). The stock plummeted 46% last week, but shot back up today. Still, it was $40 a share just a couple years ago, today it closed at around $15 (it was $10 last week).

If they offer the 'voluntary separation package' again, should I take it or should I try to stick out the tough times, like I have done so many times before? It's a dilemma that weighs heavy on my mind. Should I stay, or should I go?