Red, dude, your not paying attention. Point one, acquire HA for 700 million? Can't happen, it's not for sale at that price. The current stock price has absolutely nothing to do with the price it would sell for should someone start bidding on it. Point 2, it's been made pretty obvious here that Hawaiian does not connect with SWA's 3500 flts a day. It's a hub in the middle of the pacific, the closest it comes to SWA is on the west coast, were the majority of the flights leave too early to get any feed from SWA and arrive too late to connect to any SWA flights. Finally, integration would be a nightmare, SWAPA would think it deserves more than it should (that's their job in a merger) and HALPA would not be very friendly, an Arbitrator most likely wouldn't be handing any widebody seats to SWA pilots and the result would be a black hole of civil unrest in the Pacific for SWA that would be a very unpleasant place for any "RealSWA" employee to set foot in.
Other than that your post is spot on! :beer: