As with most marriages, it is hard to judge the long-term prospects of a new airline partnership during the honeymoon period. But the early signs are certainly promising for the latest U.S. airline merger between Alaska Airlines and Virgin America. One of the major ways airlines measure a merger’s success is through the financial benefits—or synergies—that result. After all, this is why companies undertake such deals; they calculate that the whole is greater than the sum ...

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