Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  SPRAGUE JOSEPH A
 2. Date of Event Requiring Statement (Month/Day/Year)
03/12/2012		 3. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP INC [ALK]
(Last)
(First)
(Middle)
19300 INTERNATIONAL BLVD, 19300 INTERNATIONAL BLVD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
VP/MARKETING
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

SEATTLE, WA 98188		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
COMMON STOCK 6,022
D
 
COMMON STOCK 401(K) (1) 1,621
I
ESOP TRUST
RESTRICTED STOCK UNIT (2) 7,460
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
EMPLOYEE STOCK OPTION (RT TO BUY) 08/30/2006(3) 08/30/2015 COMMON STOCK 1,875 $ 32.96 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 09/13/2007(3) 09/13/2016 COMMON STOCK 2,200 $ 37.96 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 01/31/2008(3) 01/31/2017 COMMON STOCK 1,910 $ 42.85 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 06/14/2008(3) 06/14/2017 COMMON STOCK 1,156 $ 27.4 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/08/2009(3) 02/08/2018 COMMON STOCK 5,050 $ 27.49 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 04/23/2009(3) 04/23/2018 COMMON STOCK 5,490 $ 18.19 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 01/29/2010(3) 01/29/2019 COMMON STOCK 6,590 $ 27.56 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/03/2011(3) 02/03/2020 COMMON STOCK 2,300 $ 33.26 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/07/2012(3) 02/07/2021 COMMON STOCK 2,200 $ 61.3 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/14/2013(3) 02/14/2022 COMMON STOCK 1,950 $ 76 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SPRAGUE JOSEPH A
19300 INTERNATIONAL BLVD
19300 INTERNATIONAL BLVD
SEATTLE, WA 98188		       VP/MARKETING  

Signatures

JEANNE E GAMMON, ATTORNEY-IN-FACT FOR JOSEPH A. SPRAGUE 03/13/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) SHARES HELD IN THE ALASKA AIR GROUP INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN TRUST AS OF MARCH 5, 2012.
(2) STOCK UNITS AWARDED UNDER ALASKA AIR GROUP'S 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE.
(3) OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE.

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