What happens when that isn't the case anymore? The legacies ARE getting more healthy, and contract time is coming up at UAL/CAL (for the merger), and DL (2012 ammendable, but talks starting 18 months prior). If rates match SWA for the 737 or equivalent, and higher for widebodies, then what would you say? If pay was about the same, SWA would lose for lack of variety in planes, routes, layovers, etc. Some people don't care about where they go, until they try INTL flying and see that it is like a mini-vacation. It's great, and the SWA guys like to say it's no big deal because "they used to fly to INTL places in the C141....." It's just not the same, and they know it. So, add the same pay or better and more variety, SWA will be seen as a well paid REGIONAL, flying lots of legs to some nowhere towns in West Texas.
Stability? I would say the airlines paying down debt and having the most cash on hand are pretty good for now. (DL is doing both) And with possible mergers out there for every airline, stabiltiy may be hard to come by. CEOs will be making decisions that could affect everyone.
And you think new 737s satisfy "variety?" They already fly 737NGs. How does that satisfy variety? They are stuck on one plane type, forever. They will fly it to ELP and LBB over 600 times in their careers, and that might be in the first 10 years. 4 or 5 legs a day in that plane, trip after trip, would get mighty boring. But hey, they are currently well paid, and they seem to have fun, which is not bad I guess. But add pay at the other airlines, and I see SWA guys leaving SWA in droves. They did before 9-11---SWA Captains were leaving for newhire UAL classes.
Bye Bye---General Lee