芝加哥：阿拉斯加航空正将其在西雅图与达美航空长达十年的竞争延伸至海外。该公司利用从夏威夷航空收购的宽体客机，试图在高端国际旅客市场上与对手一决高下。
CHICAGO: Alaska Airlines is taking its decade-long Seattle battle with Delta Air Lines overseas, deploying the widebody jets it acquired with Hawaiian Airlines to go head-to-head for premium international travelers.
长期以来，阿拉斯加航空凭借比美国大型航空网络运营商更低的运营成本，以及以国内航线为基础在太平洋西北地区积累的忠实客户群而实现盈利。这家总部位于亚马逊、微软、星巴克、好市多等企业云集之地且毗邻波音主要生产基地的航空公司，如今希望在保持成本优势的同时，通过高端舱位、国际航线及会员计划获取更多收益。
For much of its history, Alaska made money by operating more cheaply than the large US network carriers and cultivating loyalty in the Pacific Northwest through a largely domestic network. The carrier, based in a region that is home to Amazon , Microsoft, Starbucks and Costco , as well as major Boeing operations, now wants to earn more from premium cabins, international travel and its loyalty program without sacrificing its cost advantage.
阿拉斯加航空计划到2030年将从西雅图出发的洲际目的地数量增加两倍，至少达到15个，并力争成为该市最大的国际航线运营商。该公司拟于明年开通前往巴黎和雅典的航班。
Alaska aims to triple its intercontinental destinations from Seattle to at least 15 by 2030 and become the city's largest international carrier. It plans to launch flights to Paris and Athens next year.
然而路透社对Cirium数据的分析显示：截至2027年8月的12个月内，阿拉斯加航空从西雅图出发的洲际航班座位中，约92%的航线与达美航空提供直飞服务的线路重合，这意味着其绝大部分运力都直接面临强劲竞争对手的挑战。
But about 92% of Alaska's scheduled intercontinental seats from Seattle in the 12 months through August 2027 are on routes Delta also serves nonstop, a Reuters analysis of Cirium data shows, placing nearly all that capacity in direct competition with its larger rival.
阿拉斯加航空的这一战略转型意在证明：高端市场与国际业务带来的收入增长能够弥补单纯依靠成本优势难以缩小的与大型竞争对手的差距。路透社对公司财报的分析显示：今年上半年，在不计入燃油成本的情况下，阿拉斯加航空每运送一名乘客一英里的成本较达美、联合航空及美国航空的平均值低约17%。但该公司每座位英里的营收却少了约五分之一，这使得其在应对伊朗战争引发的燃油价格飙升时面临更大压力。
Alaska's shift is a bet that premium and international revenue can close a gap with larger rivals that its cost advantage alone cannot bridge. In the first half, the carrier spent about 17% less than the average of Delta, United Airlines and American Airlines to fly a seat one mile, excluding fuel, a Reuters analysis of company filings found. But it generated roughly a fifth less revenue per seat mile, leaving it less room to absorb the fuel-price shock tied to the Iran war.
“实际上成本结构较高的航空公司反而能获得更高利润率，”阿拉斯加航空首席执行官本·米尼库奇周二向投资者解释道，“我们必须做出战略调整。”
The airlines that actually have high cost structures are the ones making the highest margins, Alaska CEO Ben Minicucci told investors on Tuesday. We need to pivot.
这场发生在美国西海岸第三繁忙机场的激烈竞争，折射出整个航空业为争夺高端市场、国际业务及会员经济收益而展开的较量——这些领域正逐渐成为各大航空巨头日益重要的利润增长点。
The fight at the third-busiest airport on the US West Coast reflects a broader industry battle for premium, international and loyalty revenue, an increasingly important source of profits for the largest carriers.
在芝加哥奥黑尔机场，美国航空与联合航空之间也上演着类似的竞争。达美航空将西雅图视为其在太平洋地区的重要门户，今年夏季新增了飞往罗马的航线，并计划从2027年3月起开通每日一班飞往东京成田机场的航班——这条航线目前已有阿拉斯加航空在运营。此外，达美还获得了18个机场登机口的优先使用权，并新开设了两家贵宾休息室。
A similar contest between American and United is playing out at Chicago O'Hare. Delta, which calls Seattle its premier Pacific gateway, added Rome service this summer and plans a daily flight to Tokyo Narita from March 2027, a route Alaska already serves. It has also secured preferential access to 18 airport gates and opened two additional lounges.
对阿拉斯加航空而言，此次竞争至关重要：燃油价格飙升严重挤压了该公司今年的利润空间。据估算，国际航线贡献了阿拉斯加航空在西雅图地区约30%的营收，而此前该公司仅能从中分得一部分份额。为将西雅图打造为通往欧洲与亚洲的航空枢纽，阿拉斯加航空正陆续引进波音787客机，增设高端舱位并扩建贵宾休息室。
For Alaska, the stakes are high as the fuel-price shock has squeezed its profits this year. The company estimates international travel accounts for roughly 30% of airline revenue in Seattle, a pool of business it historically captured only in part. It is adding Boeing 787s, premium cabins and lounges to build Seattle into a gateway to Europe and Asia.
本周二，该公司宣布计划加入美国航空在大西洋及太平洋航线上的收益共享合作项目。若监管机构批准反垄断豁免及其他相关许可，阿拉斯加航空便可与美国航空及其海外合作伙伴在指定航线上协同制定票价与时刻表，并共享收益。本土市场的优势此次战略调整的核心在于阿拉斯加航空的本土市场——而达美航空也在此建立了竞争性的航空枢纽。
Alaska said on Tuesday it plans to join American's revenue-sharing ventures across the Atlantic and Pacific. If regulators grant antitrust immunity and other approvals, it could coordinate fares and schedules and share revenue with American and its overseas partners on covered routes.HOME-TURF ADVANTAGEThe pivot centers on Alaska's home market, where Delta has built a rival hub.
随着竞争日益激烈，两家航空公司于2017年终止了代码共享及常旅客合作计划。数据显示，包括夏威夷航空在内，阿拉斯加航空占据了西雅图地区约一半的定期航班座位资源，这一比例约为达美航空的两倍。不过在跨洋航线方面情况则相反：同期从西雅图出发的洲际航班中，达美航空提供的座位数量约为阿拉斯加航空的两倍。
The carriers ended their codesharing and frequent-flier partnership in 2017 as competition intensified. Alaska, including Hawaiian, accounts for about half of scheduled airline seats in the Seattle area, roughly twice Delta's share. Across the oceans, the balance reverses: Delta has about twice as many scheduled intercontinental seats from Seattle over the same period, Cirium data shows.
为缩小这一差距，阿拉斯加航空计划充分发挥本土市场的优势，引导美国西部的旅客搭乘其长途航班。据该公司向路透社透露，搭乘阿拉斯加航空飞往首尔与雷克雅未克的乘客中，超过半数需在西雅图中转；而前往伦敦与罗马的旅客则更多来自当地市场。
Alaska plans to use its home-market advantage to narrow the gap, funneling travelers from across the West onto its long-haul flights. More than half of passengers on Alaska's Seoul and Reykjavik flights connect through Seattle, the company told Reuters, while London and Rome depend more heavily on local traffic.
在接受采访时，阿拉斯加航空总裁兼首席财务官谢恩·塔克特表示，部分长途航线上的客流量增长情况超出了预期。达美航空则未对置评请求作出回应。进军全球市场的代价拓展全球业务意味着需要增加飞机、机组人员，也会使运营复杂度显著提升，同时阿拉斯加航空还将与达美航空在更多市场上形成直接竞争。潜在风险在于，相关成本的增长速度可能会超过能覆盖这些开支的新增收入。
In an interview, President and Chief Financial Officer Shane Tackett said connecting traffic has run above expectations on some long-haul routes. Delta did not respond to a request for comment.THE COST OF GOING GLOBALGoing global will add aircraft, crews and operating complexity while putting Alaska into more direct competition with Delta. The risk is that those costs could arrive faster than the new revenue needed to pay for them.
梅利乌斯研究公司的分析师康纳·坎宁安指出，阿拉斯加航空的扩张方向是正确的，但目前却面临着燃油价格高企以及核心市场竞争加剧带来的短期压力。
Melius Research analyst Conor Cunningham said Alaska is focused on the right areas but faces near-term pressure from high fuel costs and heavier competition in key markets.
阿拉斯加航空的财务空间有限，难以承受战略失误带来的后果：预计到2026年末，该公司的净杠杆率——即债务与盈利的比值——将达到其长期目标值的三倍。
Alaska has limited financial room for a strategic misstep: it expects to end 2026 with net leverage - debt relative to earnings - at three times its long-term target.
为在西雅图组建飞行员与空乘团队，阿拉斯加航空运营波音787机队的成本也高于常规水平。塔克特称，随着更多飞机陆续投入运营且业务规模不断扩大，这些成本有望回归正常水平。
Alaska's 787 operation has higher-than-normal crew expenses as it builds pilot and flight-attendant bases in Seattle. Tackett said those costs should normalize as more aircraft arrive and the operation gains scale.
今年夏季阿拉斯加航空首次开通欧洲航线，这一经历充分体现了其盈利状况的波动幅度。塔克特介绍称，7月份前往伦敦的高端客流量表现强劲，助力航线实现盈利；但随后燃油价格上涨又抵消了这一收益。
Its first European summer showed how quickly the economics can turn. Stronger-than-expected premium demand to London helped the operation turn a profit in July before higher fuel prices erased that gain, Tackett said.
阿拉斯加航空预计，到2030年，非价格敏感型高端舱位的营收占比将从今年的53%提升至近60%。公司寄望于这一业务结构的调整能增强自身的抗风险能力。“我们意识到，未来成功的航空公司与十年前的模样已大不相同，”塔克特对路透社说道。
Alaska expects nearly 60% of revenue to come from outside the price-sensitive main cabin by 2030, up from 53% this year, a shift it is betting will make the business more resilient. What we've recognized is the winning airline of the future looks different than it did 10 years ago, Tackett told Reuters.