I agree with you MonkeyBoy.
This years schedule is set in stone now, so even if you were to join now, you would get a year (500 hours) on a B757 so you would be pretty employable should (and thats a very big should) the worst happen.
You also have to put into perspective that First Choice/Thomas Cook management will be able to influence how any deal goes through, and the strongest will probably survive. Sadly, it will be backroom staff - ops, admin etc that will be exactly doubled up so there will be job losses. It 'may' not come to pilot redundancies - and even if it does, probably not for ages.
Besides, successfull companies like FCA get many takeover approaches throughout the year, and it just so happens that someone leaked this recent set of events to the press. (possibly MYT to improve their share price ahead of a dissapointing set of year end financials - but perhaps im looking into things too much!!)
Any other thoughts.....