Once proud mainline carrier, and in its second bankruptcy in so many years, US Airways has exhausted its ability to attract capital. In a last gasp it has secured financing from Wexford LLC and the Eastshore Group. These are corporate shell names for regional airlines, Chautauqua and Air Wisconsin which have each ponied up 125 million. One would hope that these two have first dibs on assets because their gamble could end up being only a noble contribution to US Air’s struggle. At their current rate of burn, and even though that’s a lot of dough, the 250 million equity commitment is a mere donation. Not likely that these regional carriers are buying their jobs just to hang on to feeder contracts. The evolution of the regional airline industry is amazing as they transform and influence more than anyone would have imagined. It wasn’t long ago when these carriers were known as “commuters”. Could it be that this is an epic David vs. Goliath transfer of the old guard industry shake up? Or, is it yet another string of naive investors in aviation with ego and money to lose?