The purpose of this codeshare is not for LUV passengers to be able to fly to Mexico, Hawaii or the Caribbean.
Due to cabotage laws and various "freedoms", as well as simple geographic and economic realities, it makes no sense to try and force traffic north to Canada to fly it south, or to Hawaii.
Vancouver - Honolulu is 2,705 miles about 150 miles more than LAX-HNL. Even if it was permitted, and with oil at anything above about $30 a bbl, it's not going to make sense to anyone to have people fly 1,100 miles from LAX to YVR to take the same 6 hour flight to HNL.
This deal allows WJ and SW access to a very lucrative transborder market. That's what this is all about.
Don't forget that Canada is the US's #1 export partner, the #1 supplier of oil and the single largest source of (legal), foreign tourists. Additionally, the C$ is pretty much par with the US$ these days, making the US a cheap destination for Canadians for the first time in about 30 years. It's also a very safe place for Americans to visit.
There is lots of business and leisure air traffic between the two countries and this partnership is going to exploit it to the benefit of their passengers, their employees and their shareholders.
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