Interestingly enough...

No one seemed to state the obvious. All airlines (that's every single one) are doomed to failure sooner or later. Look at the greats of old...Eastern, TWA, etc. the model of seniority and ever increasing wage costs is unsustainable as there's always another startup airline that comes in, undersells and runs the giants out of business. The big three make money on their international flying mostly. In the 70s, Southwest pilots were the laughing stock of the industry taking less wages and only flying narrow bodies domestically. Now, they're paid on par with the the Big three. It will be interesting to see how long that model lasts.

My advice, find an airline that is growing who's contract is up. Pick the one with the best QOL (bases, contract language, etc.) that you can - knowing that it will probably change - and get on a seniority list as soon as possible. Join the negotiating committee of the union and fight like heck.

Chances are, you'll make a good living, be happy and fly some new equipment without being on reserve for 8+ years.