A few years ago (when my friend was in training) Kellner came to the new hire class to speak. Someone asked if they had any plans on merging. He said they had no plans on merging but had looked into all possibilities. If any other carrier merged it would force them to merge. Granted that was a few years ago, but if that is still true, there aren't many merger candidates.

Maybe he sees re-regulation leveling the playing field and not requiring CAL to merge. ???