I think they could do vacation destinations and make a profit, if they schedule flights with more service on Fri pm, Sat, and Sun. and then maybe 1 flight a day during the week. Cancun would work well from a mid sized city where they do not already have the "cheap charters".
The bonus here is the Rapid Reward program would become more valuable to many; even if peak periods have limited seats (sort of like Hawaii for the legacies -- good desitnation but not many seats during prime time). And could charge 1 1/2 RR Award for a RT -- a 50% premium.
Where to fly from? DAL would be nice, BUT not good for connections there to most other destinations. MDW good, but I think lots of competition from there. Maybe Nashville, STL, or even PHX (big hub).