No, the government would NEVER alow a AA/DL merger...like ContinentalEWR said, there is way too much overlap.
However, I am VERY anxious to hear how AA reacts to the UA/US thing. AMR has quite a track record of fighting back in a fierce way when they are given a challenge...who knows what they have planned. Will they cry foul? Or will they announce a merger of their own?
Look out little guys (HP, AS, etc.)...
San Diego, CA