The small satellite SFO base just got whacked and other bases will likely be impacted as well over the next 18-24 months. The aircraft deliveries (orders) slated through 2018 are for replacement and there have been deferrals of deliveries. Parker is very cautious about expansion and with the coming synergies that this merger has produced just like others, it is likely a period of static operation will occur and given those as not yet realized synergies, it is also likely that there will be little need for additional pilots after 2016 for an undetermined period as the operation levels itself out. It won't be forever, but it will almost certainly be for at least a year and possibly as long as three.

This would be good news for AAG regionals though as they too would have less attrition and become more stable which although isn't the point of AA realignment, but another positive byproduct of it. Consolidation among the wholly-owneds with a uniform flow will stabilize the feed segment as well, which I think likely. Additionally, AA pilots go into section 6 negotiations starting in 2019 and of course, management always likes to use hiring and growth as a lever against pilots in that situation, so the timing of all this matches up quite predictably for this probability.