I agree. DAL/CAL has been an on-and-off plan for years, and almost happened once or twice. Creditors would love it, and the corporate "fit" is probably as good as DAL/WAL. I'll also predict AMR/NWA and UAL/US Air. Lots of assets would have to be sold/traded to satisfy the feds, and some of them would be picked up by SWA etc. We might end up with a semi-rational air transportation system, at least for a while.