SEATTLE, Aug 16, 2002 (BUSINESS WIRE) -- Alaska Air Group (NYSE:ALK) issued the following statement regarding the status of compliance with requirements for top officers to certify financial results:

"Top officers of Alaska Air Group have complied with Securities and Exchange Commission requirements to certify the company's past financial results.

"In their filing on August 14, the officers clearly referenced that the company has determined it will change certain accounting policies that will result in a restatement of previously financial statements.

"As reported on July 22 in the company's quarterly earnings release, this restatement was made after Alaska changed auditors and resulted from changes to how the company accounts for lease returns and internally developed software, the cumulative impact of which will result in an increase in shareholder's equity of $28.9 million as of December 31, 2001. Additionally, the company reported on August 14 in its 10-Q filing a change to how it will account for aircraft purchase commitments assumed by a third party and a reclassification of deferred income taxes, neither of which impact equity or earnings.

"Once those restated results have been fully audited, Alaska will amend reports with the SEC."

CONTACT:          Alaska Air Group
                  Jack Evans, 206/433-3134

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