I don't think any legacy or regional airline will take paycuts at this point. You'll see the Airtrans, fronteirs and air midwests do it. But as superpilot said, there is NO room at regionals. I for one would gladly burn down our corporate offices if they asked for pay cuts.

Legacy guys shouldn't put up with it either. Frankly, I would rather my airline go out of business, than make this industry even MORE shoddy than it already is.