Fubi,
You know they can't sell off Horizon.
The big Y in the road is 2015-2016 when our 400's are scheduled to go. We will be right back to "what do we do now?" like we were in 2007 when the 200's retired.
I see only two choices. 1. Take the now 15 year old 700's and start cutting a large door, and go through all the hassle again to make another combi or 2. Bring Horizon to ANC and spend the next few years slowly working the bugs out and eventually (2015-16) have them fly the state of Alaska. Of course the Q400 can't pack the loads (pax, FR8 and bags) so people will ride around the state in turbo props and FR8 will fly in jets. A 700 freighter is a lot easier / cheaper to make than a 700 Combi.
If you have not done so, go to On Your Horizon and read the 34 page brief about the arbitrators decision - it's a good read. I didn't like the part where it showed that Alaska pilot's wages have gone up 2.3% since 2001. Really? 2.3% raise in 10+ years? No wonder this is a slowly dying profession.
But for now - Congrats to the Horizon pilots! Job well done!