Doesn't work that way anymore, at least not consistently.

Right now, I'd probably be looking for a good place to hang out for a few years with a lower risk of furlough and good QOL.

Actually if I were not already at a regional, I'd probably look for GA jobs where you could make more money while the industry shakes out. You're not going to lose much seniority with things slowing to a crawl (or going into reverse).