Go back to your sandbox Nick. All pilots have something to worry about. Mergers, oil, etc. I was furloughed for five years the last time and don't want to go through with that again. However, look at the global landscape. Emirates, Lufthansa, Air France/KLM are all on a tear. The only way the US carriers will compete is if they have the same global network. This merger will do that and then some. Also, check out the equity markets sometime. In fact, try and qualify for a loan on a home 5X your income. See what happens. The legacies are facing a cash crunch unlike any they have ever seen. The reason we emerged from bankruptcy the last time is that the credit markets were lending money like mad. Now that well is dried up. You go into Ch.11 now, you may never come out. The only way to negotiate with Boeing or Airbus is with cash. DAL/NWA will have nearly $7-8 billion in cash. That's power the others won't have.

As far as 9E, it appears they promised and underdelivered. They told DAL they could fly a particular schedule as DAL asked and then realized they couldn't do it. I think this is more house cleaning than anything. That and DAL is dwindling the number of regionals that will be players in the merged entity.