Originally Posted by Cholla6918

A few things worth pointing out from our side of the fence:

• Alaska couldn’t have bought our fleet for what they paid for the whole company. The equity portion was only about $1B, and even with assumed debt, the total price is roughly in line with what it would cost just to acquire a similar wide-body fleet on the open market.
  
  Didn’t need a wide body fleet. Company was making tons of cash the way it was.
  
• The real prize isn’t the airplanes — it’s our routes, international authority, slots, and the Hawaiian brand.None of that is something Alaska could’ve simply gone shopping for.
  
  You’re right it sure isn’t the airplanes. Flew on a 330 back from ANC this summer in the front. You aren’t winning over any SEA business travelers with that product.
  
• Yeah, Hawaiian wasn’t profitable, but those losses were driven by temporary headwinds: Japan’s slow rebound, fuel spikes, and the A321 engine issues. The underlying assets hold real value once integrated into a larger network.
  
  I’ll just keep saying it. The measure of a companies business model is how it performs when times are bad, not when it’s on tailwinds. HAs business model is/was obsolete, inefficient, outdated, and if the rumors are true from the section audits, run like a complete dumpster fire.
  

As for the JCBA and management’s incentives — we absolutely should be skeptical. But even with the merger, Alaska doesn’t gain long-term stability by dragging their feet on a contract. They still need a unified pilot group and predictable labor costs to make their “synergies” actually materialize. Without that, the numbers they’re projecting don’t work.

Costs seem pretty stable. They know how much you cost (a lot less than everyone). They know how much we cost (industry average). This comment is pilots bighting off on Harvard MBA speak without really knowing anything.

No one here has to swallow the corporate spin — we’ve all heard enough of it to last a career. But from the inside looking out, this acquisition isn’t just a bailout or a vanity buy. I think it’s a strategic grab Alaska couldn’t replicate by just waiting for the market or shopping for metal.