The answer to every single thing that Indigo does is cost cutting.

They told us in a memo that they have realized more efficiency in the new contract than they expected. We are fat on pilots, so of course they will slow down hiring and even offer a few colas. Saves money.

Now, if an IPO is coming, which I believe it is, if they can stop hiring for 3 months (a financial quarter) it makes the numbers look even better. Training new hires is not cheap.

I believe an IPO is more likely than any merger. Its simple, it raises serious cash and then they are free to move on and do anything they like. Mergers are messy and complicated.