I think the pncl groups proposal is the most fair. Pncl purchased both airlines and thus it is an aquisition not a merger. If you look at all three pilot groups you can see that pncl gains the least in any merger. Colgan is an airline that people go to and get their time and go to airlines like pncl and mesaba. Mesaba would be equal if they weren't losing their saabs, thus all mesaba brings is furloughs.

This is just my 2 cents from an outsider.