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 *
  HARRISON ANDREW R
 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)
C/O ALASKA AIRLINES, INC., 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/PLNG & REV MGMT
 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 1,154
D
 
RESTRICTED STOCK UNIT (1) 3,410
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) 04/25/2009(2) 04/25/2018 COMMON STOCK 1,250 $ 19.81 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 01/29/2010(3) 01/29/2019 COMMON STOCK 1,648 $ 27.56 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/03/2011(4) 02/03/2020 COMMON STOCK 1,150 $ 33.26 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/07/2012(5) 02/07/2021 COMMON STOCK 2,100 $ 61.3 D  
EMPLOYEE STOCK OPTION (RT TO BUY) 02/14/2013(6) 02/14/2022 COMMON STOCK 1,940 $ 76 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HARRISON ANDREW R
C/O ALASKA AIRLINES, INC.
19300 INTERNATIONAL BLVD
SEATTLE, WA 98188		       VP/PLNG & REV MGMT  

Signatures

JEANNE E GAMMON, ATTORNEY IN FACT FOR ANDREW R. HARRISON 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) STOCK UNITS AWARDED UNDER ALASKA AIR GROUP'S 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE.
(2) OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE; REMAINING OPTIONS VEST ON 04/25/2012.
(3) OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE; REMAINING OPTION VEST ON 1/29/2013.
(4) OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE; REMAINING OPTIONS VEST AS FOLLOWS - 575 ON 2/3/13 AND 575 ON 2/3/14.
(5) OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE.
(6) OPTIONS GRANTED WILL VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS BEGINNING ON THE FIRST ANNIVERSARY OF THE GRANT DATE.

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