Just because Section 2 COULD make it easier to combine doesn't at all mean it WOULD be. There are more than enough analysts that would assert that there is no threat that ANY US airline will shut down in the near future - and thus there is no risk of harming the economy. There is nothing to laugh at and no face saving to be done. Your assertion that consolidation can occur easily is just not supportable - other than by one statue which may or may not be relevant in today's airline industry.
And, yes, times have changed since UA 1st entered BK. There were no shortage of people that predicted UA's demise and I could fill a post with articles stating as much. And there were alot of people - me included that weren't sure what DL would be able to do 13 months ago. But DL and NW gone in and did their work in BK and are much stronger today. It is not bashing UA to say they didn't do their job because if they did they would be in a lot better position than they are today.
But I will continue to say that all of the talk about consolidation is driven by one man - Glen Tilton - who is trying to get out of the mess at UA and save what he can of his own hide and investment as well as that of the banks and creditors that saved UA so it could have another chance.
Other than Tilton's desire to save UA, there is nothing in the industry that says that this is a good time for any OTHER airline to get involved with UA. My preference, along with everyone else's, would be that UA right itself and return to its former grandeur. I'm skeptical that they will, however, and if they don't the only course will be another downhill slide that will likely result in another BK filing that will result in assets being sold or a change of control imposed. US airlines have most often been given the opportunity to reorganize themselves on their own after the 1st bankruptcy. When #2 and following comes, the consequences get considerably more dire.