The take over of TWA by American Airlines almost did AA in and cost the jobs of thousands of employees on both the TWA and AA sides. It did save a number of senior people on the TWA side.
At this time there is no airline that is in financial shape to take over USAir as a company. As AR said they may be able to take over the routes and many of the assets (equipment) but not the company.
Mike(Who expects to see a few more Chapter 11 filings in the airline industry in the next few months)