With these fuel prices, they've gone through cash quickly, ... Their strategy might work, but the question is if they have enough time to test it.

This is one - we might finally see a liquidation.

Some of the capacity will go away if fuel prices stay this high. It (oil prices near $50 a barrel) could hasten US Airways' demise.

It's probably too little too late.

This process has plagued other airline mergers, and brings a risk of operational disruption or added costs.

Not many assets there.

There's certainly been a history of low-fare carries going by the wayside.

The combined entity will face significant hurdles, particularly integration of its labor forces.