Staffing aircraft won't be easy, with expected attrition and no pilots coming in the challenge will be to reduce the fleet fast enough to keep up with pilot attrition.
If there is a merger, it will be because the combined company is become small enough to make it sensible
I've been hearing about this pilot shortage for over 3 years. Every fall it's "gonna be in the spring". Every spring it's "coming at the end of fall".. I don't buy it any more.