The company claims we're not shrinking on an ASM basis. In fact I think we're growing by a percent or two year over year, at least domestically. It's true that the mainline fleet count will be down for 2015, but the airplanes being parked are lesser-used MD80s and 75/76s, and they're being replaced with highly utilized 737s, A320s, and a couple 787s for good measure. So the argument is that block hours (pilot jobs) are holding about steady. For now.

The bad news is that AA does seem to run reserves a lot thinner than US had, and neither side has PBS yet, which will supposedly leave the entire combined airline overstaffed by 1000+ pilots. And there probably are still "synergies" to be realized. Delta has already syngerized, already has PBS, and is in fact growing, so that's why they're hiring more.

Still, retirements are humming along, so the company needs new guys (and girls!) in the meantime. I'd be surprised if we hit anything close to Delta's rumored 120/month anytime soon though.

For the record, this is all based on what I've heard on company earnings calls. It's out there if you care to verify it.