Alaska Airlines fare sale? (updated)

UPDATE (2/23): Do we need any more reminders that air fares change like the wind? I thought not, but Alaska Airlines thought otherwise.

Last weekend, Alaska Airlines filed some sale fares between Anchorage, Seattle and Portland. Initially, the fares were valid for travel right away--with no set "travel by" date.

Honestly, the fares weren't that great. But it was a step in the right direction ($456 roundtrip from Anchorage to Seattle, $476 roundtrip to Portland). In fact, Delta went Alaska one better, by offering the rates with no advance purchase whatsoever. The catch? You had to fly through Salt Lake City. "Just think of the miles," said my friend Laura Savage, a travel agent over at Explore Tours in Anchorage.

But this morning, Alaska yanked the fares for travel in March, April and early May. Now, these rates are available only between May 15 and Sept. 15, 2010. Tickets must be purchased by Feb. 28, 2010. I think that's a stupid move, particularly since March, April and early May are "off-season."

The lowest available fare from Anchorage to Seattle now is a whopping $544.09 roundtrip Mm-hmm. Read it and weep. Still, travelers need to know how these deals are shaking out -- and that the mix can change quickly.

The only thing stupider than Alaska's high fares to Seattle is Continental's high fare. Right now, the least-expensive ticket on Continental Airlines between Anchorage and Seattle is a budget-busting $614.09 roundtrip.

Welcome to the Fortress Hub called Anchorage.

Ah, I can see some cracks in the ice. Since Christmas, the air fare deals have been few and far between.

Oh, we saw a flurry of activity in Fairbanks following Frontier Airlines' announcement that it would fly four times a week from Denver to the Golden Heart City beginning in May. And those were great deals -- and there are more to come.

But for those of us who want to travel right now, it's been slim pickings. For example, flights to Seattle have rested stubbornly above the $500 mark, thanks to Alaska Airlines' near-monopoly on the route. Although Continental Airlines also flies the route, until now the Houston-based airline showed little appetite for engaging Alaska Airlines in a fare war.

This weekend, Alaska launched a fare sale to Seattle and Portland. Between Anchorage and Seattle, the fare dropped to $456 round-trip, all-in. Between Anchorage and Portland, the rate is $476 round-trip, all-in.

I stopped what I was doing and posted the rates on my Twitter and Facebook pages. The new rates were greeted by a big y-a-w-n.

"It's still a shame I can fly to Portland for less than a ticket to Ketchikan," writes @scobeyj.

"It's sad that this seems like a good deal," laments @ToddWalkerKTVA.

"If I had to fly, for business or for a family gathering, I agree it could be worse. But discretionary travel ain't happenin' at these prices," writes frequent flyer Chris Luth.

There's more to this fare cut than meets the eye, though. Alaska Air's earlier sales to the L.A. area and to San Francisco were strictly for summertime travel. But this sale to Seattle and Portland starts immediately. In fact, I bought a ticket myself last night for a meeting in March.