Too little too late. FT has been predicting this for years especially in the lead-up to the the AA/US merger. This is the potential problem in a highly regulated industry with enormously high barriers to entry especially when the number of participants is consolidated to our current state.
FWIW, I don't inherently have a problem with prices going up while oil is going down (I don't hear anyone demanding Ford/GM lower their prices despite oil going down), my issue only comes with the coordination and "wink-wink" activities going on (such as the not so subtle statements at the IATA conference about capacity discipline.
Where was Senator Blumenthal when the DOJ was investigating the merger AA/US merger? The DOJ isn't about to roll back the mergers so I won't be holding my breath that anything substantive comes out of this.
At most this will lead to DOJ giving a harder look at the JFK/EWR swap between DL/UA (though even that is unlikely IMO) and maybe a requirement to swap a few slots around in other places. The only way to solve this is to provide Virgin with the slots necessary to actually compete with the big four and seek to have the same impact that B6 has had on the NYC market.