The Aces started their campaign on their quest for their 4th All-Filipino crown on a high note including a 4–0 start. They struggled in the middle part of the conference but still remained the leader in the standings. Alaska finished as the number one team after the elimination round winning 12 games in 18 matches and was the first team to secure a seat in the Semifinals giving them a long rest. After three weeks of waiting, they faced the defending Philippine Cup champion Sta. Lucia Realtors, a re-match of last year's Semifinals which went to a seven-game grueling series. The Realtors swept the depleted-lineup of the Rain or Shine Elasto Painters in the Quarterfinals. The Aces beat the defending champion Realtors in six games to advance and arranged a Finals showdown with the Talk 'N Text Tropang Texters. They had a 2–0 lead first but Talk 'N Text tied the series 2–2. In Game 5, Alaska won 95–93 courtesy by Willie Miller's tough three-point shot. In Game 6, Talk 'N Text tied the series 3–3 to force a Game 7. In Game 7, they had a chance to win the title but the missed free throws during the crucial seconds of the game by Miller and Joe Devance gave Talk 'N Text the win and the title, 93–89.