I wouldn't necessarily "welcome" it but I certainly don't think it'd be the end of the World like a lot of Alaska folks would. We'd get a fair deal via MB, negotiate industry leading rates, and move on. All I'd care about is protecting the bases. Not interested in being based anywhere East of San Diego.
Actually, I think it would be a pretty easy integration. AK would fence base in SEA, DL could fence anything bigger than 737. Everyone would be happy!