Found this study about the role and history of regional airlines. It's a bit dated (and long?), but it wasn't a bad read to put the whole thing in perspective. Especially their analysis on major-owned versus independent regional carriers in the future. I'm certainly not trying to create my own crystal ball, but for those like me who are maybe a year or so out from joining the game, this seems like a good read to keep in mind.

http://faculty.weatherhead.case.edu/...pter_oct06.pdf