Binding arbitration has already been agreed upon by both sides. What purpose would a lawsuit serve? Will it make somebody feel better? It won't change anything other than making your bank account have fewer zeros at the end.

Maybe it would be cheaper to hire a therapist than a lawyer. At least the therapist will try to make you feel better. The lawyer will try to make you feel worse so that you feel better about your rapidly mounting legal bill.

Take is as it comes. If you don't like the outcome, you can resign. Almost every airline should be hiring in 2013.