It's hard to say what's going to happen. From what I'm gathering the Air Tran flight attendants and pilots are happy has can be. There is some concern about how they will fall in seniority. When American bought TWA some (if not all) of the employees were tacked on to the bottom of the list, so they kept their same seniority amongst other TWA folks, but all went after the AA folks.
One of the potential problems is the ground staff and reservationists who are not currently union. Although they are trying, and may have it in it time. As I understand it, if they have no union then SW will essentially say here's a job application, lot's of luck. With a union, they can at least negotiate. But TWA was union as well.
But, SW doesn't exactly like a lot of bad press, so I'd say things will work out. It wouldn't look too good if they bought Air Tran and then screwed over the employees.
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