AV8ER13,
A merged list with no fences, and a "no bump, no flush" provision means that yes, a DAL guy that wanted to fly a 747 400 could bid into it, but only if there is an opening from a retirement or "bid out." He could not "bump" a junior person out of a seat that he wants. Of course it would go the other way as well if there was an opening on a DAL jet. I'm not familiar with DAL's displacement bid process. We don't have separate award and displacement bids at NWA.
I say NWA or DAL guy, but hopefully if this merger goes through there will only be DAL guys and no more Red/Green/Blue/Delta/Real Delta crap going on.
Caveat all that with the fact that I have no idea what is actually being discussed. Lots of wild speculation and rumor here and elsewhere right now. Try not to get too caught up in it. Call or e-mail your reps.