Pros
The work environment and people make for a great place to work. The aviation industry is very interesting and have given me the opportunity to travel to very cool places and always have challenging problems to solve. It depends on the position but I have extremely great flexibility and work life balance and most every coworker that I know would agree. People have been hard on the new CEO, Tom Klein. My opinion is that he is a pretty standard executive and most people I know don't like him because he has a very different style of management than the last CEO, not necessarily worse.
Cons
There is very limited visibility into what upper management is thinking. Proposals are sent "up stairs" but you never seem to get an answer or even get a feel for how they took the proposal. Recent change (and moves to get there)to being a public company has seemed to hurt employee morale more than help