Greetings ... I've been a fan of this forum for many years and rarely post, but AS has recently done something that makes ZERO sense to me.

I'm a travel agent and confirmed First Class (paid FULL First Class FASR fare) for AS16, SEA-MCO 10/15 and received the following message from AS:
AS FLT16 15OCT SEAMCO OVRBKD IN FC/LOOKING
FOR VOL WLNG TO CHNG FLT OR DWNGRD IN EXCH
FOR COMP/PLS CTC PAX TO ADVISE AND CTC
ALASKAAIR IF WILLING TO CHNG OR WITH
QUESTIONS/THANK YOU

I called Alaska Concierge Desk and they too were shocked by what is going on. After some investigation, it appears AS oversold First Class and if they do NOT get volunteers to switch, Alaska will bump the last ticketed passenger into Economy Class!!!! Is AS now overselling First Class? How often does this happen? HOW DOES THIS HAPPEN? (I was assured my clients were not the last booked into First Class, but still am cautious). Thank you in advance.