I think the regionals will continue to be a stepping stone to the majors. The real question is will you want to work for a major when it comes time for the leap. Starting back in '01 most of the pilots @ the majors took some concessionary pay-cuts in the form of give-backs to upper management. Pay and quality of live since then has not returned to its previous levels. It's 2008. I think the wages for airline pilots have fundamentally changed and I don't see them returning to where they were previously. So, the wage gap that exists today between regional pilots and the big leagues will continue to narrow. Remember, adjusted for inflation, airline pilots 20 years ago made 2x as much as they do today.

If you want to carry people and earn a good wage w/ good benefits and quality of life, the trend seems to be to work for a fractional. This, I think, is due to some basic changes that are occurring in our country. It is gradually turning into the haves and the have-nots. The haves seem to be moving in droves towards the fractionals, use NetJets as an example. These folks will shell out 2 million dollars/year for 50 hours of flight time w/out even flinching. As a pilot, the fact that they have money essentially insulates your job. You're less vulnerable to spikes in oil prices and fluctuations in the economy because the clients you serve have lots of money. The have-nots stick to the airlines...it's all they can afford. This is where the airlines are stuck w/ a real difficult dilemma. They need to raise the fares to compensate for rising jet fuel prices, yet if they do this, many of their pax will choose not to fly. This will result in a reduction in capacity, fleet down-sizing, and furloughs for pilots (the junior ones, of course). Consolidation is a short-term solution to a long term problem: Rising costs. In the end, consolidation will directly benefit the CEO, board of directors, shareholders, and hedge funds associated w/ the merger. The senior pilots will fare OK. If you're on the lower end of the totem pole, it's a tenuous situation at best. Consolidation supposedly reduces overlap/redundancy in route structure...if that's the case, look at fleet reduction/base closures as a result and subsequent furloughs for junior pilots. Sticking to freight might be your best option if you want to fly a large jet, however, those jobs are a dime a dozen.

I agree w/ what freezingflyboy had to say. Previous distinctions are being blurred. Get on w/ a regional airline, but w/ that said, really look to get on w/ a quality regional airline. Do your research and find out which ones treat their people well...w/ dignity and respect. Get on w/ that carrier, let things shake out a bit, then ask yourself what you want to do. Only time will tell.

The Duke