There won't be a whole meger in this industry. Delta and USAirways was scrupled to death by both investors AND the government. The government was bringing up anti-trust concerns between number six (Airways) and number three (Delta) in size. I believe the pilot groups would have been about 9k strong as a combined list. No way is the government going to let Delta merge with United or Northwest, resulting a seniority list of pilots topping 10K or 11K. People were dead set against a Delta/USAirways merger because of furloughes......since then, USAirways has announced HIRING 425 pilots. It's funny how things work out. Delta just didn't want to be the hunted.......
As I said, no Major mergers in this industry. I'd be willing to see some more of the smaller ones go for consolidation though. Alaska, Midwest, Frontier, JB, Aloha, Hawaiian- I'd expect to see some of them get snatched up by the majors over the course of the next few years.