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<P align="center"><FONT size="2"><B>As filed with the Securities and Exchange Commission on July&nbsp;11, 2002</B></FONT>

<DIV align="right"><FONT size="2"><B>Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></DIV>

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<DIV align="center"><FONT size="2"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549<BR>
<HR noshade size="1" width="16%"></B></FONT></DIV>
<DIV align="center"><FONT size="2"><B>FORM S-8<BR>
REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B></FONT></DIV>
<DIV align="center"><FONT size="2"><B><HR noshade size="1" width="16%">
ALASKA AIR GROUP, INC.</B><BR>
(Exact name of registrant as specified in its charter)</FONT></DIV>

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<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
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        <TD width="48%">&nbsp;</TD>
        <TD width="4%">&nbsp;</TD>
        <TD width="48%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Delaware</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>91-1292054</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(State or other jurisdiction of
incorporation or organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(I.R.S. Employer Identification No.)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>19300 Pacific Highway South<BR>
Seattle, Washington 98188</B><BR>
(Address of principal executive offices, including zip code)</FONT>

<P align="center"><FONT size="2"><B>Alaska Air Group, Inc. 2002 Employee Stock Purchase Plan<BR>
Alaska Air Group, Inc. 1999 Long-Term Incentive Equity Plan<BR>
Alaska Air Group, Inc. 1997 Long-Term Incentive Equity Plan</B><BR>
(Full title of the plans)</FONT>

<P align="center"><FONT size="2"><B>Keith Loveless<BR>
General Counsel &#038; Corporate Secretary<BR>
Alaska Air Group, Inc.<BR>
19300 Pacific Highway South<BR>
Seattle, Washington 98188<BR>
(206)&nbsp;431-3731</B><BR>
(Name, address and telephone number, including area code, of agent for service)</FONT>
<DIV align="center"><FONT size="2"><HR noshade size="1" width="16%">

Copy to:<BR>
<B>J. Sue Morgan<BR>
Perkins Coie LLP<BR>
1201 Third Avenue, Suite&nbsp;4800<BR>
Seattle, Washington 98101-3099</B></FONT></DIV>
<DIV align="center"><HR noshade size="1" width="16%"></DIV>

<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="3%">&nbsp;</TD>
        <TD width="41%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><HR size="4" noshade></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to Be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Offering Price Per Share</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration Fee</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="2"><FONT size="1"><B>Title of Securities to Be Registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered(1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>(2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>(2)</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Common Stock, $1.00 par value per share, under the:</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">2002 Employee Stock Purchase Plan</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">1,000,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$23.345</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$23,345,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$2,147.74</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">1999 Long-Term Incentive Equity Plan</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">1,200,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$23.345</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$28,014,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$2,577.29</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">1997 Long-Term Incentive Equity Plan</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">741,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$23.345</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$17,298,645</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$1,591.48</FONT></TD>
</TR>

<TR valign="bottom">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><HR size="1" noshade></TD>
</TR>

<TR valign="bottom">
        <TD colspan="2"><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">TOTAL</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">2,941,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$23.345</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$68,657,645</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" colspan="3"><FONT size="2">$6,317.00</FONT></TD>
</TR>
<TR valign="bottom">
        <TD colspan="18"><HR size="4" noshade></TD>
</TR>

</TABLE>
</CENTER>

<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes an indeterminate number of additional shares that may be
necessary to adjust the number of shares reserved for issuance pursuant
to the employee benefit plans as the result of any future stock split,
stock dividend, spin-off, combination or exchange of shares,
recapitalization, merger, consolidation, distribution to stockholders
other than a normal cash dividend, or similar adjustment of the
Registrant&#146;s outstanding common stock.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of calculating the registration fee
pursuant to Rule&nbsp;457(c) under the Securities Act of 1933, as amended.
The calculation of the registration fee is based upon a per share price
of $ 23.345, which was the average of the high ($ 23.81) and low ($
22.88) sales prices of the Registrant&#146;s common stock on July&nbsp;3, 2002, as
reported by the New York Stock Exchange.</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2">&nbsp;
</FONT>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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<TR><TD colspan="9"><A HREF="#000">PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;4. DESCRIPTION OF SECURITIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;8. EXHIBITS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;9. UNDERTAKINGS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#008">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#009">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="v82885orexv5w1.txt">EXHIBIT 5.1</A></TD></TR>
<TR><TD colspan="9"><A HREF="v82885orexv99w3.txt">EXHIBIT 99.3</A></TD></TR>
</TABLE>
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<!-- link1 "PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>

<!-- link2 "Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE" -->
<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Securities and Exchange Commission
(the &#147;Commission&#148;) are hereby incorporated by reference into this Registration
Statement:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp; The Registrant&#146;s Annual Report to Shareholders on Form&nbsp;10-K for the
fiscal year ended December&nbsp;31, 2001, filed on March&nbsp;1, 2002, which contains
audited financial statements for the most recent fiscal year for which such
statements have been filed;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp; The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the quarter ending
March&nbsp;31, 2002, filed on May&nbsp;2, 2002;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp; The Registrant&#146;s Current Reports on Form&nbsp;8-K filed on July&nbsp;3, 2002,
June&nbsp;6, 2002, June&nbsp;3, 2002 (8-K/A), May&nbsp;28, 2002, May&nbsp;7, 2002, April&nbsp;12, 2002,
April&nbsp;3, 2002 and March&nbsp;12, 2002; and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp; The description of the Registrant&#146;s common stock contained in the
Registration Statement on Form&nbsp;8-A filed on September&nbsp;19, 1985 under Section
12(b) of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;),
including any amendments or reports filed for the purpose of updating such
description.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c),
14 and 15(d) of the Exchange Act after the date hereof, and prior to the filing
of a post-effective amendment which indicates that the securities offered
hereby have been sold or which deregisters the securities covered hereby then
remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the
respective dates on which such documents are filed.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There may be risks and your recovery may be limited as a result of our
prior use of Arthur Andersen LLP as our independent public accounting firm. On
March&nbsp;14, 2002, Arthur Andersen LLP, our independent public accounting firm for
the years ended December&nbsp;31, 1979 through 2001, was indicted on federal
obstruction of justice charges arising from the U.S. government&#146;s investigation
of Enron. On May&nbsp;22, 2002, we dismissed Arthur Andersen LLP as our independent
public accountants and we have hired Deloitte &#038; Touche LLP as our independent
auditors for the year ending December&nbsp;31, 2002. As a public company, we are
required to file with the SEC periodic financial statements audited or reviewed
by an independent accountant, including those incorporated herein by reference.
Because our former audit partner has left Arthur Andersen LLP, we have not
been able to obtain the written consent of Arthur Andersen LLP as required by
Section&nbsp;7 of the Securities Act after reasonable efforts. The SEC has recently
provided regulatory relief designed to allow companies that file reports with
the SEC to dispense with the requirement to file a consent of Arthur Andersen
LLP in certain circumstances. However, investors will not be able to sue
Arthur Andersen LLP pursuant to Section&nbsp;11(a)(4) of the Securities Act and
therefore may have their recovery limited as a result of the lack of consent.
</FONT>
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<DIV align="left"><A NAME="002"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. DESCRIPTION OF SECURITIES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<P align="center"><FONT size="2">II-1
</FONT>

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<!-- link2 "Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. INTERESTS OF NAMED EXPERTS AND COUNSEL</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None.
</FONT>
<!-- link2 "Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS" -->
<DIV align="left"><A NAME="004"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145(a) of the Delaware General Corporation Law (the &#147;DGCL&#148;)
provides that a Delaware corporation may indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the corporation)
by reason of the fact that such person is or was a director, officer, employee
or agent of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation or
enterprise, against expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred by such person in connection with such action,
suit or proceeding if such person acted in good faith and in a manner he or she
reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no
cause to believe his or her conduct was unlawful.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145(b) of the DGCL provides that a Delaware corporation may
indemnify any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed action or suit by or in the right of
the corporation to procure a judgment in its favor by reason of the fact that
such person acted in any of the capacities set forth above, against expenses
actually and reasonably incurred by such person in connection with the defense
or settlement of such action or suit if such person acted under similar
standards, except that no indemnification may be made in respect of any claim,
issue or matter as to which such person shall have been adjudged to be liable
to the corporation unless and only to the extent that the court in which such
action or suit was brought shall determine that despite the adjudication of
liability, such person is fairly and reasonably entitled to be indemnified for
such expenses which the court shall deem proper.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 of the DGCL further provides that to the extent a director or
officer of a Delaware corporation has been successful in the defense of any
action, suit or proceeding referred to in subsections 145(a) and (b)&nbsp;or in the
defense of any claim, issue or matter therein, such person shall be indemnified
against expenses actually and reasonably incurred by such person in connection
therewith; that indemnification provided for by Section&nbsp;145 shall not be deemed
exclusive of any other rights to which the indemnified party may be entitled;
and that the corporation may purchase and maintain insurance on behalf of a
director or officer of the corporation against any liability asserted against
such person or incurred by him or her in any such capacity or arising out of
his or her status as such whether or not the corporation would have the power
to indemnify such person against such liabilities under Section&nbsp;145.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of the Registrant&#146;s Bylaws requires indemnification to the
full extent permitted by the DGCL or other applicable law. Subject to any
restrictions imposed by such law, the Bylaws provide a right to indemnification
for all expense, liability and loss (including attorneys&#146; fees, judgments,
fines, ERISA excise taxes or penalties and amounts to be paid in settlement)
actually and reasonably incurred or suffered by the indemnitee in connection
with any actual or threatened action, suit or proceeding by reason of the fact
that such person is or was a director or officer of the Registrant or, being or
having been such a director, officer or an employee of the Registrant, he or
she is or was serving at the request of the Registrant as a director, officer,
employee or agent of another corporation or other entity.
</FONT>
<P align="center"><FONT size="2">II-2
</FONT>

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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;102(b)(7) of the DGCL provides that a corporation in its original
certificate of incorporation or an amendment thereto validly approved by
stockholders may eliminate or limit personal liability of members of its board of directors or governing body for
breach of a director&#146;s fiduciary duty. However, no such provision may
eliminate or limit the liability of a director for breaching his or her duty of
loyalty, failing to act in good faith, engaging in intentional misconduct or
knowingly violating a law, paying a dividend or approving a stock repurchase
that was illegal or obtaining an improper personal benefit. A provision of
this type has no effect on the availability of equitable remedies, such as
injunction or rescission, for breach of fiduciary duty. Article&nbsp;11 of the
Registrant&#146;s Certificate of Incorporation provides for such limitation of
liabilities to the full extent permitted by the DGCL.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant&#146;s officers and directors are covered by insurance (with
certain exceptions and with certain limitations) which indemnifies them against
losses and liabilities arising from certain alleged &#147;wrongful acts,&#148; including
alleged errors or misstatements, or certain other alleged wrongful acts or
omissions constituting neglect or breach of duty.
</FONT>
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<P align="left"><FONT size="2"><B>Item&nbsp;7. EXEMPTION FROM REGISTRATION CLAIMED</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;8. EXHIBITS" -->
<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. EXHIBITS</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="90%">
<TR valign="bottom">
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="86%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Exhibit No.</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
5.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Opinion of Perkins Coie LLP regarding legality of the common stock
being registered</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of Perkins Coie LLP (included in opinion filed as Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
24.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Power of Attorney (see signature page)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Alaska Air Group, Inc. 2002 Employee Stock Purchase Plan
(incorporated by reference to Appendix&nbsp;B of the proxy statement on
Schedule&nbsp;14A filed with the Commission on April&nbsp;12, 2002)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Alaska Air Group, Inc. 1999 Long-Term Incentive Equity Plan
(incorporated by reference to Appendix&nbsp;A of the proxy statement on
Schedule&nbsp;14A filed with the Commission on April&nbsp;12, 2002)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.3
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Alaska Air Group, Inc. 1997 Long-Term Incentive Equity Plan</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2">II-3
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link2 "Item&nbsp;9. UNDERTAKINGS" -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. UNDERTAKINGS</B></FONT>

<P><FONT size="2">A.&nbsp;The undersigned Registrant hereby undertakes:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp; To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the
Securities Act;
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement; and
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
</FONT>

<P><FONT size="2">provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp; That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp; To remove from registration by means of a post-effective amendment any
of the securities being registered that remain unsold at the termination of the
offering.
</FONT>
<P><FONT size="2">B.&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefits plan&#146;s annual
report pursuant to Section&nbsp;15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
</FONT>
<P><FONT size="2">C.&nbsp;Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
</FONT>
<P align="center"><FONT size="2">II-4
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Seattle, State of Washington, on the 10th day of
July, 2002.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">ALASKA AIR GROUP, INC.</FONT></TD>
</TR>
</TABLE>
<P>&nbsp;
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%"><FONT size="2">By:</FONT></TD>
        <TD width="47%"><FONT size="2">/s/ John F. Kelly<BR>
<HR noshade size="1">
John F. Kelly<BR>
Chairman of the Board, Chief Executive Officer and <BR>
President</FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2"><B>POWER OF ATTORNEY</B></FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose individual signature appears below hereby authorizes
John F. Kelly and Bradley D. Tilden, or either of them, as attorneys-in-fact
with full power of substitution, to execute in the name and on the behalf of
each person, individually and in each capacity stated below, and to file, any
and all post-effective amendments to this Registration Statement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated below on the 10th day of July, 2002.
</FONT>
<CENTER>
  <TABLE cellspacing="0" border="0" cellpadding="0" width="80%">
    <TR valign="bottom">
      <TD width="40%">&nbsp;</TD>
      <TD width="10%">&nbsp;</TD>
      <TD width="40%">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
      <TD><FONT size="1">&nbsp;</FONT></TD>
      <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD nowrap align="center">
        <HR size="1" noshade>
      </TD>
      <TD><FONT size="1">&nbsp;</FONT></TD>
      <TD nowrap align="center">
        <HR size="1" noshade>
      </TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ John F. Kelly<BR>
        <HR noshade size="1">
        John F. Kelly</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Chairman, Chief Executive
        Officer and President<BR>
        (Principal Executive Officer)</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Bradley D. Tilden<BR>
        <HR noshade size="1">
        Bradley D. Tilden</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top" nowrap><FONT size="2"> Executive Vice President/Finance
        and Chief Financial<BR>
        Officer (Principal Financial Officer)</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Terri K. Maupin<BR>
        <HR noshade size="1">
        Terri K. Maupin</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Staff Vice President/Finance
        and Controller<BR>
        (Principal Accounting Officer)</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ William S. Ayer<BR>
        <HR noshade size="1">
        William S. Ayer</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Phyllis J. Campbell<BR>
        <HR noshade size="1">
        Phyllis J. Campbell</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Ronald F. Cosgrave<BR>
        <HR noshade size="1">
        Ronald F. Cosgrave</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Mary Jane Fate<BR>
        <HR noshade size="1">
        Mary Jane Fate</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
  </TABLE>
</CENTER>


<P align="center"><FONT size="2">II-5
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<CENTER>
  <TABLE cellspacing="0" border="0" cellpadding="0" width="80%">
    <TR valign="bottom">
      <TD width="51%">&nbsp;</TD>
      <TD width="5%">&nbsp;</TD>
      <TD width="44%">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
      <TD><FONT size="1">&nbsp;</FONT></TD>
      <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD nowrap align="center">
        <HR size="1" noshade>
      </TD>
      <TD><FONT size="1">&nbsp;</FONT></TD>
      <TD nowrap align="center">
        <HR size="1" noshade>
      </TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="top">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="center" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Mark R. Hamilton<BR>
        <HR noshade size="1">
        Mark R. Hamilton</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Bruce R. Kennedy<BR>
        <HR noshade size="1">
        Bruce R. Kennedy</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ R. Marc Langland<BR>
        <HR noshade size="1">
        R. Marc Langland</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Byron I. Mallott<BR>
        <HR noshade size="1">
        Byron I. Mallott</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ John V. Rindlaub<BR>
        <HR noshade size="1">
        John V. Rindlaub</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ J. Kenneth Thompson<BR>
        <HR noshade size="1">
        J. Kenneth Thompson</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle">&nbsp;</TD>
      <TD>&nbsp;</TD>
      <TD align="left" valign="top">&nbsp;</TD>
    </TR>
    <TR valign="bottom">
      <TD align="center" valign="middle"><FONT size="2">/s/ Richard W. Wien<BR>
        <HR noshade size="1">
        Richard A. Wien</FONT></TD>
      <TD><FONT size="2">&nbsp;</FONT></TD>
      <TD align="left" valign="top"><FONT size="2"> Director</FONT></TD>
    </TR>
  </TABLE>
</CENTER>


<P align="center"><FONT size="2">II-6
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="center"><FONT size="2"><B>INDEX TO EXHIBITS</B></FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="80%">
<TR valign="bottom">
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="86%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Exhibit No.</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD colspan="3"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
5.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Opinion of Perkins Coie LLP regarding legality of the common stock
being registered</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
23.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Consent of Perkins Coie LLP (included in opinion filed as Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
24.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Power of Attorney (see signature page)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.1
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Alaska Air Group, Inc. 2002 Employee Stock Purchase Plan
(incorporated by reference to Appendix&nbsp;B of the proxy statement on
Schedule&nbsp;14A filed with the Commission on April&nbsp;12, 2002)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
99.2
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Alaska Air Group, Inc. 1999 Long-Term Incentive Equity Plan
(incorporated by reference to Appendix&nbsp;A of the proxy statement on
Schedule&nbsp;14A filed with the Commission on April&nbsp;12, 2002)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

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        <TD align="right" valign="top"><FONT size="2">
99.3
</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Alaska Air Group, Inc. 1997 Long-Term Incentive Equity Plan</FONT></TD>
</TR>
</TABLE>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on July 11, 2002
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
ALASKA AIR GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware
91-1292054
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer Identification No.)
19300 Pacific Highway South
Seattle, Washington 98188
(Address of principal executive offices, including zip code)
Alaska Air Group, Inc. 2002 Employee Stock Purchase Plan
Alaska Air Group, Inc. 1999 Long-Term Incentive Equity Plan
Alaska Air Group, Inc. 1997 Long-Term Incentive Equity Plan
(Full title of the plans)
Keith Loveless
General Counsel & Corporate Secretary
Alaska Air Group, Inc.
19300 Pacific Highway South
Seattle, Washington 98188
(206) 431-3731
(Name, address and telephone number, including area code, of agent for service)
Copy to:
J. Sue Morgan
Perkins Coie LLP
1201 Third Avenue, Suite 4800
Seattle, Washington 98101-3099
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Amount of
Amount to Be
Offering Price Per Share
Aggregate Offering
Registration Fee
Title of Securities to Be Registered
Registered(1)
(2)
Price
(2)
Common Stock, $1.00 par value per share, under the:
2002 Employee Stock Purchase Plan
1,000,000
$23.345
$23,345,000
$2,147.74
1999 Long-Term Incentive Equity Plan
1,200,000
$23.345
$28,014,000
$2,577.29
1997 Long-Term Incentive Equity Plan
741,000
$23.345
$17,298,645
$1,591.48
TOTAL
2,941,000
$23.345
$68,657,645
$6,317.00
(1)
Includes an indeterminate number of additional shares that may be
necessary to adjust the number of shares reserved for issuance pursuant
to the employee benefit plans as the result of any future stock split,
stock dividend, spin-off, combination or exchange of shares,
recapitalization, merger, consolidation, distribution to stockholders
other than a normal cash dividend, or similar adjustment of the
Registrant's outstanding common stock.
(2)
Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(c) under the Securities Act of 1933, as amended.
The calculation of the registration fee is based upon a per share price
of $ 23.345, which was the average of the high ($ 23.81) and low ($
22.88) sales prices of the Registrant's common stock on July 3, 2002, as
reported by the New York Stock Exchange.
TABLE OF CONTENTS
PART II INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
Item 4. DESCRIPTION OF SECURITIES
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Item 8. EXHIBITS
Item 9. UNDERTAKINGS
SIGNATURES
INDEX TO EXHIBITS
EXHIBIT 5.1
EXHIBIT 99.3
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed with the Securities and Exchange Commission
(the "Commission") are hereby incorporated by reference into this Registration
Statement:
(a)  The Registrant's Annual Report to Shareholders on Form 10-K for the
fiscal year ended December 31, 2001, filed on March 1, 2002, which contains
audited financial statements for the most recent fiscal year for which such
statements have been filed;
(b)  The Registrant's Quarterly Report on Form 10-Q for the quarter ending
March 31, 2002, filed on May 2, 2002;
(c)  The Registrant's Current Reports on Form 8-K filed on July 3, 2002,
June 6, 2002, June 3, 2002 (8-K/A), May 28, 2002, May 7, 2002, April 12, 2002,
April 3, 2002 and March 12, 2002; and
(d)  The description of the Registrant's common stock contained in the
Registration Statement on Form 8-A filed on September 19, 1985 under Section
12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
including any amendments or reports filed for the purpose of updating such
description.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act after the date hereof, and prior to the filing
of a post-effective amendment which indicates that the securities offered
hereby have been sold or which deregisters the securities covered hereby then
remaining unsold, shall also be deemed to be incorporated by reference into
this Registration Statement and to be a part hereof commencing on the
respective dates on which such documents are filed.
There may be risks and your recovery may be limited as a result of our
prior use of Arthur Andersen LLP as our independent public accounting firm. On
March 14, 2002, Arthur Andersen LLP, our independent public accounting firm for
the years ended December 31, 1979 through 2001, was indicted on federal
obstruction of justice charges arising from the U.S. government's investigation
of Enron. On May 22, 2002, we dismissed Arthur Andersen LLP as our independent
public accountants and we have hired Deloitte & Touche LLP as our independent
auditors for the year ending December 31, 2002. As a public company, we are
required to file with the SEC periodic financial statements audited or reviewed
by an independent accountant, including those incorporated herein by reference.
Because our former audit partner has left Arthur Andersen LLP, we have not
been able to obtain the written consent of Arthur Andersen LLP as required by
Section 7 of the Securities Act after reasonable efforts. The SEC has recently
provided regulatory relief designed to allow companies that file reports with
the SEC to dispense with the requirement to file a consent of Arthur Andersen
LLP in certain circumstances. However, investors will not be able to sue
Arthur Andersen LLP pursuant to Section 11(a)(4) of the Securities Act and
therefore may have their recovery limited as a result of the lack of consent.
Item 4. DESCRIPTION OF SECURITIES
Not applicable.
II-1
Table of Contents
Item 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
None.
Item 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Section 145(a) of the Delaware General Corporation Law (the "DGCL")
provides that a Delaware corporation may indemnify any person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of the corporation)
by reason of the fact that such person is or was a director, officer, employee
or agent of the corporation or is or was serving at the request of the
corporation as a director, officer, employee or agent of another corporation or
enterprise, against expenses, judgments, fines and amounts paid in settlement
actually and reasonably incurred by such person in connection with such action,
suit or proceeding if such person acted in good faith and in a manner he or she
reasonably believed to be in or not opposed to the best interests of the
corporation, and, with respect to any criminal action or proceeding, had no
cause to believe his or her conduct was unlawful.
Section 145(b) of the DGCL provides that a Delaware corporation may
indemnify any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed action or suit by or in the right of
the corporation to procure a judgment in its favor by reason of the fact that
such person acted in any of the capacities set forth above, against expenses
actually and reasonably incurred by such person in connection with the defense
or settlement of such action or suit if such person acted under similar
standards, except that no indemnification may be made in respect of any claim,
issue or matter as to which such person shall have been adjudged to be liable
to the corporation unless and only to the extent that the court in which such
action or suit was brought shall determine that despite the adjudication of
liability, such person is fairly and reasonably entitled to be indemnified for
such expenses which the court shall deem proper.
Section 145 of the DGCL further provides that to the extent a director or
officer of a Delaware corporation has been successful in the defense of any
action, suit or proceeding referred to in subsections 145(a) and (b) or in the
defense of any claim, issue or matter therein, such person shall be indemnified
against expenses actually and reasonably incurred by such person in connection
therewith; that indemnification provided for by Section 145 shall not be deemed
exclusive of any other rights to which the indemnified party may be entitled;
and that the corporation may purchase and maintain insurance on behalf of a
director or officer of the corporation against any liability asserted against
such person or incurred by him or her in any such capacity or arising out of
his or her status as such whether or not the corporation would have the power
to indemnify such person against such liabilities under Section 145.
Article VIII of the Registrant's Bylaws requires indemnification to the
full extent permitted by the DGCL or other applicable law. Subject to any
restrictions imposed by such law, the Bylaws provide a right to indemnification
for all expense, liability and loss (including attorneys' fees, judgments,
fines, ERISA excise taxes or penalties and amounts to be paid in settlement)
actually and reasonably incurred or suffered by the indemnitee in connection
with any actual or threatened action, suit or proceeding by reason of the fact
that such person is or was a director or officer of the Registrant or, being or
having been such a director, officer or an employee of the Registrant, he or
she is or was serving at the request of the Registrant as a director, officer,
employee or agent of another corporation or other entity.
II-2
Table of Contents
Section 102(b)(7) of the DGCL provides that a corporation in its original
certificate of incorporation or an amendment thereto validly approved by
stockholders may eliminate or limit personal liability of members of its board of directors or governing body for
breach of a director's fiduciary duty. However, no such provision may
eliminate or limit the liability of a director for breaching his or her duty of
loyalty, failing to act in good faith, engaging in intentional misconduct or
knowingly violating a law, paying a dividend or approving a stock repurchase
that was illegal or obtaining an improper personal benefit. A provision of
this type has no effect on the availability of equitable remedies, such as
injunction or rescission, for breach of fiduciary duty. Article 11 of the
Registrant's Certificate of Incorporation provides for such limitation of
liabilities to the full extent permitted by the DGCL.
The Registrant's officers and directors are covered by insurance (with
certain exceptions and with certain limitations) which indemnifies them against
losses and liabilities arising from certain alleged "wrongful acts," including
alleged errors or misstatements, or certain other alleged wrongful acts or
omissions constituting neglect or breach of duty.
Item 7. EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
Item 8. EXHIBITS
Exhibit No.
Description
5.1
Opinion of Perkins Coie LLP regarding legality of the common stock
being registered
23.1
Consent of Perkins Coie LLP (included in opinion filed as Exhibit 5.1)
24.1
Power of Attorney (see signature page)
99.1
Alaska Air Group, Inc. 2002 Employee Stock Purchase Plan
(incorporated by reference to Appendix B of the proxy statement on
Schedule 14A filed with the Commission on April 12, 2002)
99.2
Alaska Air Group, Inc. 1999 Long-Term Incentive Equity Plan
(incorporated by reference to Appendix A of the proxy statement on
Schedule 14A filed with the Commission on April 12, 2002)
99.3
Alaska Air Group, Inc. 1997 Long-Term Incentive Equity Plan
II-3
Table of Contents
Item 9. UNDERTAKINGS
A. The undersigned Registrant hereby undertakes:
(1)  To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(ii) To reflect in the prospectus any facts or events arising after the
effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this
Registration Statement; and
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided, however, that paragraphs (1)(i) and (1)(ii) above do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant pursuant to
Section 13 or Section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
(2)  That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3)  To remove from registration by means of a post-effective amendment any
of the securities being registered that remain unsold at the termination of the
offering.
B. The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the Exchange
Act (and, where applicable, each filing of an employee benefits plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
C. Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Commission such indemnification is
against public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Securities Act and will be governed
by the final adjudication of such issue.
II-4
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Seattle, State of Washington, on the 10th day of
July, 2002.
ALASKA AIR GROUP, INC.
By:
/s/ John F. Kelly
John F. Kelly
Chairman of the Board, Chief Executive Officer and
President
POWER OF ATTORNEY
Each person whose individual signature appears below hereby authorizes
John F. Kelly and Bradley D. Tilden, or either of them, as attorneys-in-fact
with full power of substitution, to execute in the name and on the behalf of
each person, individually and in each capacity stated below, and to file, any
and all post-effective amendments to this Registration Statement.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated below on the 10th day of July, 2002.
Signature
Title
/s/ John F. Kelly
John F. Kelly
Chairman, Chief Executive
        Officer and President
(Principal Executive Officer)
/s/ Bradley D. Tilden
Bradley D. Tilden
Executive Vice President/Finance
        and Chief Financial
Officer (Principal Financial Officer)
/s/ Terri K. Maupin
Terri K. Maupin
Staff Vice President/Finance
        and Controller
(Principal Accounting Officer)
/s/ William S. Ayer
William S. Ayer
Director
/s/ Phyllis J. Campbell
Phyllis J. Campbell
Director
/s/ Ronald F. Cosgrave
Ronald F. Cosgrave
Director
/s/ Mary Jane Fate
Mary Jane Fate
Director
II-5
Table of Contents
Signature
Title
/s/ Mark R. Hamilton
Mark R. Hamilton
Director
/s/ Bruce R. Kennedy
Bruce R. Kennedy
Director
/s/ R. Marc Langland
R. Marc Langland
Director
/s/ Byron I. Mallott
Byron I. Mallott
Director
/s/ John V. Rindlaub
John V. Rindlaub
Director
/s/ J. Kenneth Thompson
J. Kenneth Thompson
Director
/s/ Richard W. Wien
Richard A. Wien
Director
II-6
Table of Contents
INDEX TO EXHIBITS
Exhibit No.
Description
5.1
Opinion of Perkins Coie LLP regarding legality of the common stock
being registered
23.1
Consent of Perkins Coie LLP (included in opinion filed as Exhibit 5.1)
24.1
Power of Attorney (see signature page)
99.1
Alaska Air Group, Inc. 2002 Employee Stock Purchase Plan
(incorporated by reference to Appendix B of the proxy statement on
Schedule 14A filed with the Commission on April 12, 2002)
99.2
Alaska Air Group, Inc. 1999 Long-Term Incentive Equity Plan
(incorporated by reference to Appendix A of the proxy statement on
Schedule 14A filed with the Commission on April 12, 2002)
99.3
Alaska Air Group, Inc. 1997 Long-Term Incentive Equity Plan