From Seattle Times:

As other air carriers fight for bare survival, Wall Street looks upon Alaska Airlines as the little airline that could.

Like other airlines that have cut capacity in the economic downturn, Alaska is forcing passengers to jostle as they board increasingly crowded airplanes. And starting next month, passengers will have to pay more to check the first bag.

Yet Alaska Airlines passenger loyalty has held, and at its key SeaTac International hub, the carrier is squeezing its competition.

Business & Technology | Alaska Air climbs through industry turbulence | Seattle Times Newspaper