CO has great infrastructure in Mexico that could support Denver traffic with little incremental cost. The key is incremental traffic beyond passengers originating in Denver. I don't know the mechanics of Code Share, but Code Share deals with NW and AK that would feed Denver traffic to Mexico might be good business without robbing from EWR and IAH. The other unanswred question in my mind is where the metal would come from to fly the Mexico routes. There may be some RJs available, and CO has had good success with RJs to Mexico from IAH.

I can't see Denver as a hub due to existing competition, but the Southwest model of transcon flights with an intermediate stop might work. I used to fly WN to the West Coast from Austin with a stop in Las Vegas and always got there quicker than on AA via DFW or CO via IAH.

Poco