Simply anectodal evidence but, it seems Alaska only has three options:
1. Grow organically over time before they get run out by Delta in SEA and SWA to the South.
Not likely their plan since they keep pushing orders back, slowing growth projections and slowing hiring.

2. Grow through M&A.
Not looking likely soon because of what they paid for Virgin America AND the fact that they wouldn’t have even done THAT, if JBlue hadn’t forced their hand.

3. Be purchased. And go away as a brand.
I’ve been told that the leadership doesn’t want to be known as the team that sold away the Alaska legacy. But, in time they might not have a choice.

I am based in SEA but I live in the south. The land of Delta. And, thankfully we’re now serving cities here in their back yard. ATL, BNA, RDU etc. But here’s the difference in Delta’s philosophy in SEA vs Alaska’s doing in the East.... Delta is AGRESSIVELY pursuing Alaska’s market. And I’m guessing SWA will do the same to Hawaii.
Alaska’s response is, “well we are gonna just keep being so amazing that nobody in the PNW or Alaska or California will use our competition.”

I thought that maybe since Alaska is going to all the East and Southeast destinations, maybe they’d be gearing up for trying to market themselves as a better alternative to Delta or JetBlue to people who previously never considered Alaska.... but they aren’t.

There’s no marketing of Alaska in Nashville to Nashvillians to go to SEA or SFO, or Hawaii. There’s none in ATL or RDU etc. And I wondered “Why? Why would you let Delta come in YOUR town and market themselves as the airline for Washingtonians by being THE airline for the Seahawks and not push back by marketing/educating Delta’s customers in the South, that we have a better product.

And then it dawned on me. They aren’t interested. The flights to all those cities in the East, aren’t to compete with Eastern based airlines for some of their market share with people who live in the East. They serve so cities just to give more options for folks that live in the PNW, Cali, or Alaska, or used to and know our brand already.

They want to grow our route structure, and have. But not to take the fight to the East coast, but to just hang on to or slightly gain a little more of what they’ve always been, a great PNW and Alaska based airline.

I don’t think that’s a viable strategy with what Delta and SWA are bringing to bear, but I guess time will tell.