As one who chose USAir in the 80's for some of the same reasons mentioned (making money, industry leading contract etc.), I would have to disagree. There were signs even then of the coming train wreck though it's always much easier to see them in retrospect.
In the mid-80's, USAir was a regional airline that essentially ran unopposed in the high cost - high yield northeast. If you wanted to fly to Albany, Rochester, Erie, Pittsburgh or Elmira etc. there was only one way to go and they sure socked it to you on price. Their costs were the highest in the industry. When they decided to expand into a national carrier, they had never effectively competed with anyone and were ill-equipped to compete with American, United and Delta. They were also loaded with hubris. When I joined, a representative from the company came to talk to our class and he was so full of B.S. about how we couldn't fail, how American wasn't going to know what hit them, and basically how Ed Colodny's ....... didn't stink that I should have known better. Well, about the minute that USAir started to compete with the established majors, they started to lose money and it wasn't until American West bought them that they didn't have the highest costs in the industry.