Splitting US Air would make sense if the people at the top and the shareholders would get a bunch of damn money from doing it. I know Dougy Parker says he wants to merge and keep the company together but come on......if someone offers his a$$ a few tens of millions of bucks he'll blow his wad on a selloff like a 14 year old on prom night, as will every shareholder.
Always remember, there is what management says, and what they do. I laugh my a$$ off every time I commute on American and read Arpey's column in the American Way magazine, seeing him talk about respecting and loving employees. HAAA!! I worked at AMR for 9 short months, and it took me about 9 minutes to come to the realization that there is no management team that cares less about employees or customers than AMR's. Most airline managment is the same way. They can spew out lots of happy leprachaun gumdrop dancing bull$hit, but at the end of the day, it's all about money and they will cut your head off and crap down your neck if it means putting one extra nickel on the bottom line.
That being said, US Air isn't merging with anybody in its current state. Nobody wants to take on that epic storm of poo slinging. Splitting up the two sides and selling them off makes a lot more sense if you're looking to make some quick money. The West side integration would go fine, the Easties would cause problems no matter where they would go. JB getting the west would make perfect sense for their route network, equipment type, and it would solve the problem of getting bigger iron on property so they can start going deeper into South America, which they've had a hardon for for a while now. As far as the east goes, I don't think Alaska, or anybody for that matter, would want to deal with the head-slamming-on-the-wall headache that is USAPA, even though it would be a huge increase in revenue and route structure.
Therein also lies the question, if JB were to merge with the west, what would happen to all the regional feed? JB relies on a superior product to generate customers. Converting the AWA busses and 757's wouldn't be a big deal, but what about the RJ's? How pissed off would you be as a customer if you bought a ticket expecting free TV, legroom, and snacks, and you ended up on a piece of $hit 20 year old CRJ with you own a$$ in your face and half a can of Coke? Probably pissed enough to stop flying Jetblue.
Lots of questions to be answered, but not out of the realm of possibility, IMO.
