RJ Dreamer - which one has a stong major partner? I would go with XJT and definately pass on ASA / Skywest.
Refer to my other post which includes the article on ASA, Skywest and Delta. What that article does not mention is that SkyWest left 40 CRJ200's on Delta's balance sheet so that should Delta go down those 40 airplanes could be parked instantly and be Delta's headache - not SkyWests'.
By the same token, Skywest is very exposed to United's problems too.
Regional airlines are at best subcontracted alter ego airplanes and labor . These subcontracted services can be cancelled with a single signature on a contract, or a bankruptcy judges ruling. Continental is less exposed to these risks and so is their regional.
Northwest might pull through, but in my view they are in the same basket as Delta.