Sounds like they may be getting "leaner" for the time being, which leads me to believe they may be saving up for something soon.....maybe an aquisition? With that large profit for the quarter, and then also paying down some of their debt, they obviously have a plan. Maybe the General will be flying into Sitka sooner than later!
I wonder if the managers of Delta and Alaska are meeting in secret using code names like Bob F and Gary did over the six months prior to announcing the acquisition of AAI. Maybe " Snowman and Rebel " or....I don't know...(having a hard time coming up with a code name for the Delta guys)