SEC Form 3

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 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* BIRKETT RAKOW DIANA (Last) (First) (Middle) ALASKA AIR GROUP, INC. 19300 INTERNATIONAL BLVD (Street) SEATTLE WA 98188 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 09/12/2017	3. Issuer Name and Ticker or Trading Symbol ALASKA AIR GROUP, INC. [ ALK ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) VP EXT RELATIONS	5. If Amendment, Date of 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

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)

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: 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)	09/11/2018(1)	09/11/2027	COMMON STOCK	2,980	75.59	D
RESTRICTED STOCK UNITS	09/11/2018(2)	09/11/2027	COMMON STOCK	1,250	0	D

Explanation of Responses:

1. OPTIONS VEST IN 25% INCREMENTS OVER FOUR YEARS AS FOLLOWS: 745 ON 9/11/18; 745 ON 9/11/19; 745 ON 9/11/20 AND 745 ON 9/11/21.

2. UNITS VEST AS FOLLOWS: 416 ON 9/11/18; 417 ON 9/11/19 AND 417 ON 9/11/20.

	/S/JEANNE E. GAMMON, ATTORNEY IN FACT FOR DIANA BIRKETT RAKOW	09/21/2017
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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