Late last year, Alaska Air (NYSE: ALK) completed its acquisition of West Coast rival Virgin America. From a strategic perspective, the deal made sense because it catapulted the combined company into a leadership position in the West Coast air travel market.
From a fleet management perspective, the merger was less ideal. Alaska Airlines has historically operated an all-Boeing (NYSE: BA) mainline fleet, whereas Virgin America exclusively flew Airbus (NASDAQOTH: EADSY) A320-series planes.