I think it is pretty clear that even though some new hires will chase the quick upgrade (like Mesa last time) many of the smaller regionals (I won't name names) will fail / liquidate simply because they cannot keep up either hiring or training once the majors really start hiring again. The majors will not have staffing problems to speak of. They may have training issues... Delta for example, The list posted earlier, The rate of attrition just due to 65 exceeds their current maximum training through put capability.