Before we all get too excited, consider how this may work.
Virgin contract Skywest to do the flying, WHY? Because they will do it cheaper than Virgin will, along the same lines as Cobham/Qantas.
Skywest have to make a buck so even though they are providing crews at a reduced rate to Virgin, Skywest will still have to make a buck and that comes through reduced terms and conditions. One would expect at least 10% less than if Virgin employed you, probably closer to 25%+
I would expect, but don't know, that the ATR will be under a completely different AOC and probably different business unit. The different AOC protects the company in the event of problems. i.e. Bending an ATR or an old F100 will not bring the whole pack of cards down.
So what will that mean to us pilots?
Terms and conditions will probably be considerably lower than Skywest Airlines are currently on.
Maybe there will be absolutely no progression from one part of the company to another. The Cobham guys employed over the last 5 yrs approx, on the 146/Dash8 are not entitled to change to the 717 and vice versa as they are seperate entities.
Along with independent business units will come completely different agreements, if your lucky the TWU will get in their and provide some protection. I hope so and good luck!