You company is bankrupt, for a second time. Your aging infrastructure is weighing you down. You've staked your comeback of the theory of "if you can't beat 'em, join 'em". What's left to do? How about a merger!

That's exactly what the folks at US Airways and America West are thinking. In a bid to become air travel darling Southwest Airline's largest rival, the two companies have unveiled tentative plans to merge. But hold on, US Airways is still in the midst of a Chapter 11 bankruptcy, and any plans would need the OK of both the court and financial backers.

So is the merger a good idea? Many are probably happy that US Airways actually has a plan to try and fulfill its goal of becoming a low cost carrier. But with an outdated spoke-hub system, can it really reinvent its self as the uber competitor of Southwest? In my opinion, not likely. US Airways has a lot of existing problems, including labor and equipment liabilities which aren't going to be shed by a merger. At best US Airways could eat up any excess capital America West is holding on to, but a merger isn't going to change the harsh reality of the great air travel shakeup.

Merger negotiations between US Airways Group Inc. and America West Holdings Corp. gathered speed last week, with the carriers hoping to seal a deal before America West's May 17 annual meeting, The Wall Street Journal reports.

US Airways, which operates its largest hub at Charlotte/Douglas International Airport, and America West confirmed the merger talks in late April.