Another potential buyer is Alaska Airlines, which is just beginning the complex process of integrating the operations of Virgin America, which it bought earlier this year. But it is not clear what value a deal to buy JetBlue, if Alaska could even pull it off, would bring to Alaska’s investors? The two did not compete much head-to-head, which is a merger positive, until Alaska acquired Virgin America, which competes head to head with JetBlue on some transcontinental routes. But there do not appear to be many good, natural points where JetBlue passengers could connect to the Alaska network – or vice versa. Without such connecting opportunities a combined Alaska-JetBlue network could struggle to be anything more than two non-compatible parts bolted together.