UAL is like Pan Am or Eastern?
Study of History is important and there are similarities. But there are key differences too. I have had just as hard of time digesting these differences as the next guy. In the last couple of years we have seen THE turnaround for UAL and USAirways, like it or not. I predict the factors that have resulted in this success to continue to generate profit and, eventually, growth. Wages? Don't know about that. Just like the problems that almost liquidated these companies took a long time to play out, the positive factors will also play out before someone else can "catch up". This is barring any unforseen changes. And there are always unforseen changes.
Nothing is certain, but those that have had the best careers in recent memory are those that get hired relatively young at relatively strong, growing airlines.
Who will be the best growers (best chance at mid-high seniority CA in 10-15 years) going forward? Maybe not SWA or JetBlue anymore. Probably Delta, USAirways, UAL, NWA, AA or CAL. Probably more than just one. Most likely not all.