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 ^*
JOHNSON GLENN S

(Last) | (First) | (Middle)
ALASKA AIR GROUP, INC.
19300 INTERNATIONAL BOULEVARD SOUTH

(Street)
SEATTLE | WA | 98188

(City) | (State) | (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/03/2003

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
| Officer (give title below) | X | Other (specify below)
Vice President of Finance

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)
Common Stock^(1) | 3,100.289 | I | ESOP Trust
Common Stock | 211 | D |

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) | 02/24/1996 | 02/23/2005 | 1988 Stock Option Plan | 3,900 | 15 | D | |
Employee Stock Option (Rt to Buy) | 11/07/1996 | 11/06/2005 | 1988 Stock Option Plan | 4,600 | 15.625 | D | |
Employee Stock Option (Rt to Buy) | 08/26/1997 | 08/25/2006 | 1996 Long Term Incentive Plan | 2,600 | 21.5 | D | |
Employee Stock Option (Rt to Buy) | 12/19/1998 | 12/19/2007 | 1997 Long Term Incentive Plan | 1,800 | 35.25 | D | |
Employee Stock Option (Rt to Buy) | 05/07/1999 | 05/07/2008 | 1997 Long Term Incentive Plan | 3,000 | 47.125 | D | |
Employee Stock Option (Rt to Buy) | 05/25/2000 | 05/25/2009 | 1996 Long Term Incentive Plan | 3,900 | 39.6875 | D | |
Employee Stock Option (Rt to Buy) | 01/25/2001 | 01/25/2010 | 1999 Long Term Incentive Plan | 4,700 | 30.5 | D | |
Employee Stock Option (Rt to Buy) | 01/30/2002 | 01/30/2011 | 1997 Long Term Incentive Plan | 6,000 | 31.8 | D | |
Employee Stock Option (Rt to Buy) | 11/12/2002 | 11/12/2011 | 1997 Long Term Incentive Plan | 5,700 | 25.2 | D | |
Employee Stock Option (Rt to Buy) | 05/31/2003 | 05/31/2012 | 1999 Long Term Incentive Plan | 7,500 | 27.85 | D | |
Employee Stock Option (Rt to Buy) | 02/11/2004 | 02/11/2013 | 1999 Long Term Incentive Plan | 7,200 | 18.76 | D | |
Employee Stock Option (Rt to Buy) | 07/16/2004 | 07/16/2013 | 1999 Long Term Incentive Plan | 14,600 | 22.84 | D | |
Explanation of Responses:
1. Number of shares owned between the Alaska Airlines and Horizon Air 401(k)retirement plan as of September 8, 2003.
Remarks:
| Shannon K. Alberts, Attorney in fact for Glenn S. Johnson | 09/11/2003
| ** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

I hereby authorize Alaska Air Group General Counsel and Corporate Secretary
Keith Loveless, Assistant Corporate Secretary Shannon K. Alberts and
Assistant Corporate Secretary Irv Bertram to sign on my behalf all
Securities & Exchange Commission reports in connection with changes of my
beneficial ownership of Alaska Air Group, Inc. securities. 

This
Power of Attorney shall remain in full force and effect until revoked by
the undersigned in a signed writing delivered to such attorney-in-fact. 

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to
be executed as of this 11th day of September, 2003. 

______________________________ 
Glenn S. Johnson 

STATE OF WASHINGTON                      

COUNTY OF KING              

On
this 11th day of September, 2003, Glenn S. Johnson personally appeared
before me, and acknowledged that s/he executed the foregoing instrument for
the purposes therein contained. 

IN WITNESS WHEREOF, I have hereunto
set my hand and official seal. 

Jeanne Gammon 
Notary
Public 

My Commission Expires:  

04/19/2004