I have already stated in the AA forums that I think AA/CO talks may be about merging some small market as well because they are totally redundant at this time.
Instead of 50% loads they could be flying out loaded if working together.

They thought the idea they could be discussing this was stupid because "american eagle is already being divested and XJET already has" but that IMO was the strongest reason to think they MAY be working together on this cause