Originally Posted by JohnBurke

Nobody cares if you have the type rating from the "ULCC."

You have a chance to go straight back to a captain position making more money and you already have a seniority number. Go there, and apply to the carrier of your choice

It's axiomatic: bird in the hand, vs. the bush; but if all three options are available, take the bird in the hand. The only thing the carrier that you're working for tight now offers is a different type airplane (not a big deal). Option 3 is applying to airlines: you can do that while you're earning a living just as easily as you can when not current and not earning captain pay.

There's nothing magical about a "ULCC," or the type rating you'd get. The only operator that ever required you to be type rated to apply was SWA, and that went away a long time ago. I knew a number of sad sacks that bought a type in their fog of shiny jet syndrome and never got hired. The poverty-carrier won't make you look more attractive and the type won't make you more desirable. Don't do that unless it's an itch you must scratch.