I wouldn't necessarily buy into another player as the AA/US combined airline has many players, I actually see the mainlines reducing the number players. They have clauses in that regionals will maintain a certain cost structure and be indexed every 5 or so years towards the most cost efficient operations. Times have changed, the whipsaw will continue but not as many players will needed.

Delta will have Pinnacle and Compass perform most of the flying, United will have SKW and EXJ do most of their flying and AA/US will have Eagle/PSA combined doing most of the feed with some other operators tied in. You will see RAH go down to one operating certificate likely in BK as I don't see them being able to unload Frontier at a profit and likely will be left with some debt. They have also undercut everyone and at some point the bills won't be able to be paid and the debt will be high. Similar to AA. I think a tell of where RAH will be going are the details form the Frontier sale.