Sadly as more regional flying is taken from fee for departure regionals (except skyw) and brought back into the AAG system to cover mainline flying at cheaper labor costs, more will fold before things improve. Remember, around 90k people in those TSA counts are airline employees being paid with cares money backing to still show up for work.

Also, owning a profitable in house regional makes said regional more valuable when or if it comes time to sell it off for cash during difficult economic times. If you don’t think AAG will throw one of the wholly owns under the bus to save mainline labor, operating costs, and furlough avoidance then...

Blue Skies