Originally Posted by
Flyby1206
The DOT only cares about slot restricted markets, and in particular NYC. The only carrier AA could realistically merge with that might require a small divestiture of slots would be jetblue.
The price for Delta to buy AA as a whole is much more than the value Delta ultimately wants from AA (MIA/DFW).
One would also have to consider the residual. In the hypothetical case of Delta or anyone else cherry picking the premo assets of AA, the rest would likely be worth nothing to no one. Thus, the price of the cherries would cost more then purchasing the whole pie and after giving a portion of the ripest cherries away to appease regulators, it would be one expensive pie indeed for only some of the ripest cherries.
IMO, fragmentation doesn't work to well for ANY of the parties concerned and the only two viable options for AA are US Airways and Jet Blue.