what I would do if I were king.
I would re-create the CAB (that's Civil Aeronautics Board to you neophytes). Pilots would have new requirements under CAB regulations for training, checkrides, rest requirements and the like.
The new CAB would mandate fares in order to create the monies required for additional training and a new pay scale. the new pay scale would take a snapshot of the proposed contracts on September 10, 2001, adjust them for inflation and that would be the only contract, with COLA each year.
Base salary for a copilot at a regional airline would no longer be an issue, as ''big '' airlines would be financially liable for anything that had their name or a variation of its name (ie express) on the side of a plane.
Yes, your ticket price would go up. Yes, the government would be in your business. but a whole lot of mediocre pilots would be looking for work.