'Not that big of deal in the scheme of things' unless you are a pilot with a lot of seniority but don't quite meet the minimums of the majors and have to start all over at XYZ regional airline and need to get more PIC time before you move on. Not to mention, many regionals have furloughs or are overstaffed, they could get more flying and still not have to hire. Don't assume that all the 1300 pilots will find jobs at other airlines.

I know it happens all the time and it is the name of the airline game but it sucks for anyone who is playing musical chairs and is still standing up when the music quits playing.

Last year several airlines went under and that was before the economy was really bad. In fact, I think a majority of them went under before record fuel prices occured. My prediction is we will see as many this year. It will be interesting to see how the cookies crumble.