Spinoff Eagle to the shareholders only to kill them off ?

That wouldn't make the shareholders very happy. Eagle will remain a feeder to AA and viable, but smaller and will share their fly-chow with 1 or more other diners. However, the pilots who do the feed will likely no longer get a thin slice of turkey and some mashed potatoes for their efforts , instead getting 3 cold fatty McNuggets and some fries (Biggee size, not approved).

Eagle, one of the last good regionals compensation-wise (if you stayed long enough) is the last of a dying breed and soon will join the rest as restaurants you'd avoid if you could.