Alaska has never declared bankruptcy ...
Also, non-Rev travel worked out (this time) for Elvis, and it is a valid point. But, I can non-rev to Paris on DAL, too ... It's called ID90 or Zed fare, and I will admit I don't know much about it. I do know it allows me to buy space available tickets on Delta (and other airlines) at 90% off (I think). ... Plus, if it is more than you and a wife or maybe one kid travelling, most flights are full most days to most places. Having said all that, my wife joined me for a day in Sitka, and she and my youngest son joined me on a trip to Chicago. Again, I was USAF for 22 years, including 6 in England, so my desires to travel are likely different than yours.
As far as mergers, Alaska has "been merging" with someone for the last 20 years. By that, I mean, rumours have been around forever. The way things are going now, I would say if we merge, it will be because we buy them rather than the opposite.
Finally, NWFlyer's point about spending nights at home while working--all our bases have lots of turn lines and trips. As a new hire, I average about 3-4 days a month doing a turn, where I drive to work in the morning, fly, drive home that night. Priceless!
Again, despite what some on here say, it is not an easy choice. Fyi, so you know my biases, I have plenty of friends at DAL, FedEx, UPS. Etc. Alaska was the only airline I applied to.