UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM 8-K
CURRENT REPORT

Pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934

February 6, 2001
(Date of Report)

ALASKA AIR GROUP, INC.
(Exact name of registrant as specified in its charter)
Commission file number 1-8957
Delaware
(State or other jurisdiction of
incorporation or organization)	 	91-1292054
(I.R.S. Employer
Identification No.)
	
19300 Pacific Highway South, Seattle, Washington 98188
(Address of principal executive offices)
(206) 431-7040

(Registrant's telephone number)

ITEM 9.  Regulation FD Disclosure

FORWARD-LOOKING INFORMATION

    This report may contain forward-looking statements that are based on the best information currently available to management. These forward-looking statements are intended to be subject to the safe harbor protection provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are indicated by phrases such as "will," "should," "the Company believes," "we expect" or any other language indicating a prediction of future events. There can be no assurance that actual developments will be those anticipated by the Company. Actual results could differ materially from those projected as a result of a number of factors, some of which the Company cannot predict or control. For a discussion of these factors, please see Item 1 of the Company's Annual Report on Form 10-K for the year ended December 31, 1999. The Company expressly disclaims any duty to update these projections, and makes no representation as to their continued accuracy in the event it does not provide such updates.

    Provided below are estimates for the first quarter of 2001.
 
	 	Forecast
Q1

	 	Change
Yr/Yr

	 	
Alaska Airlines	 	 	 	 	 	
Capacity (ASMs in millions)	 	4,358	 	3.0	%	
Fuel gallons (000,000)	 	75.5	 	1.4	%	
Cost per ASM excluding fuel (cents)	 	8.45	 	7.6	%	

Horizon Air	

 	

Capacity (ASMs in millions)	 	546	 	(0.9	)%	
Fuel gallons (000,000)	 	16.2	 	1.1	%	
Cost per ASM excluding fuel (cents)	 	19.0	 	20.8	%	
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    Provided below are fleet plan estimates for 2001 - 2003.

	 	 
	 	Estimated Change During

	 	

	 	On Hand
YE 2000

	 	 	 	
Operating Fleet Plan

	 	Seats

	 	 	 	2001

	 	2002

	 	2003

	 	 	
Alaska Airlines	 	 	 	 	 	 	 	 	 	 	 	 	
B737-200C	 	111	 	8	 	1	 	 	 	 	 	 	
B737-400	 	138	 	40	 	 	 	 	 	 	 	 	
B737-700	 	120	 	13	 	3	 	 	 	 	 	 	
MD-80	 	140	 	34	 	(4	)	(4	)	 	 	 	
B737-900	 	172	 	 	 	5	 	8	*	 	 	 	

	 	

	 	

	 	

	 	 	
Total	 	 	 	95	 	5	 	8	 	0	 	 	

	 	

	 	

	 	

	 	 	

Horizon Air	

 	

 	

 	
 	 	 	
Dash 8-100/200	 	37	 	40	 	(12	)	 	 	 	 	 	
Dash 8-400	 	70	 	 	 	15	 	 	 	 	 	 	
F-28	 	69	 	22	 	(22	)	 	 	 	 	 	
CRJ 700	 	70	 	 	 	14	 	 	 	4	 	 	

	 	

	 	

	 	

	 	 	
Total	 	 	 	62	 	(5	)	0	 	4	 	 	

	 	

	 	

	 	

	 	 	
*
Seven of these firm orders may be converted to other Next Generation Boeing 737 aircraft.

Signature

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

ALASKA AIR GROUP, INC.                 
Registrant

Date: February 6, 2001

/s/ Bradley D. Tilden                  
Bradley D. Tilden
Vice President/Finance and Chief Financial Officer

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