Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN 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 *
DOBBS KELLEY J
   2. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP INC [ALK] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP/HR & LABOR RELATIONS
(Last)
(First)
(Middle)
ALASKA AIRLINES, INC., 19300 INTERNATIONAL BLVD		 3. Date of Earliest Transaction (Month/Day/Year)
08/09/2010
(Street)

SEATTLE, WA 98188		 4. If Amendment, Date Original Filed(Month/Day/Year)
 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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK 08/09/2010   M(1)   2,100 A $ 32.96 5,362 D  
COMMON STOCK 08/09/2010   M(1)   1,777 A $ 37.96 7,139 D  
COMMON STOCK 08/09/2010   M(1)   929 A $ 27.4 8,068 D  
COMMON STOCK 08/09/2010   S(1)   4,806 D $ 54 3,262 D  
COMMON STOCK (2)               13,560 D  
COMMON STOCK (3)               976 I ESOP TRUST

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
EMP STOCK OPTION (RT TO BUY) $ 32.96 08/09/2010   M(1)     2,100 08/30/2006(4) 08/30/2015 COMMON 2,100 $ 0 0 D  
EMP STOCK OPTION (RT TO BUY) $ 37.96 08/09/2010   M(1)     1,777 09/13/2009(5) 09/13/2016 COMMON 1,777 $ 0 593 D  
EMP STOCK OPTION (RT TO BUY) $ 27.4 08/09/2010   M(1)     929 06/14/2010(6) 06/14/2017 COMMON 929 $ 0 929 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DOBBS KELLEY J
ALASKA AIRLINES, INC.
19300 INTERNATIONAL BLVD
SEATTLE, WA 98188		       VP/HR & LABOR RELATIONS  

Signatures

 KAREN A. GRUEN, ATTORNEY IN FACT FOR KELLEY J. DOBBS   08/11/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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) THE SAME-DAY EXERCISE AND SALE OF OPTIONS REPORTED IN THIS FORM 4 WERE EFFECTED PURSUANT TO A RULE 10b5-1 TRADING PROGRAM ADOPTED BY MS. DOBBS ON JULY 23, 2010.
(2) STOCK UNITS AWARDED UNDER THE 2004 LONG-TERM INCENTIVE EQUITY AND 2008 PERFORMANCE INCENTIVE PLANS; SUBJECT TO FORFEITURE.
(3) SHARES HELD IN AN ALASKA AIR GROUP, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN TRUST AS OF DECEMBER 31, 2009.
(4) THE OPTIONS VESTED IN FOUR ANNUAL INSTALLMENTS FROM THE DATE OF GRANT AND WERE FULLY VESTED AS OF 08/30/2009.
(5) THE OPTIONS VESTED IN EQUAL ANNUAL INSTALLMENTS FROM THE DATE OF GRANT AND WERE FULLY EXERCISABLE AS OF 09/13/2009; REMAINING OPTIONS BECOME EXERCISABLE 09/13/2010.
(6) THE OPTIONS VESTED IN EQUAL ANNUAL INSTALLMENTS FROM THE DATE OF GRANT AND WERE FULLY EXERCISABLE AS OF 06/14/2010; REMAINING OPTIONS BECOME EXERCISABLE 06/14/2011.

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