FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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 * MINICUCCI BENITO   2. Issuer Name and Ticker or Trading Symbol ALASKA AIR GROUP INC [ALK] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EXEC VP/OPS AND COO (Last) (First) (Middle) C/O ALASKA AIRLINES, INC., 19300 INTERNATIONAL BLVD SO 3. Date of Earliest Transaction (Month/Day/Year) 05/26/2010 (Street) SEATTLE, WA 98188 4. If Amendment, Date 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 (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price COMMON STOCK 05/26/2010   M   2,775 A $ 32.96 4,942 D   COMMON STOCK 05/26/2010   F   1,957 D $ 46.72 2,985 D   COMMON STOCK 05/27/2010   M   5,950 A $ 27.56 8,935 D   COMMON STOCK 05/27/2010   M   2,670 A $ 27.49 11,605 D   COMMON STOCK 05/27/2010   M   564 A $ 25.23 12,169 D   COMMON STOCK 05/27/2010   S   9,184 D $ 48.0157 2,985 D   COMMON STOCK (1)               42,920 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

EMP STOCK OPTION (RT TO BUY)

$ 32.96

05/26/2010

M

2,775

08/30/2006(2)

08/30/2015

COMMON

2,775

$ 0

0

D

EMP STOCK OPTION (RT TO BUY)

$ 27.56

05/27/2010

M

5,950

01/29/2010(3)

01/29/2019

COMMON

5,950

$ 0

17,850

D

EMP STOCK OPTION (RT TO BUY)

$ 27.49

05/27/2010

M

2,670

02/08/2009(4)

02/08/2018

COMMON

2,670

$ 0

2,670

D

EMP STOCK OPTION (RT TO BUY)

$ 25.23

05/27/2010

M

564

09/19/2008(5)

09/19/2017

COMMON

564

$ 0

564

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
MINICUCCI BENITO C/O ALASKA AIRLINES, INC. 19300 INTERNATIONAL BLVD SO SEATTLE, WA 98188			EXEC VP/OPS AND COO

Signatures

KAREN A. GRUEN, ATTORNEY IN FACT FOR BENITO MINICUCCI		05/28/2010
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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 THE 2004 LONG-TERM INCENTIVE EQUITY AND 2008 PERFORMANCE INCENTIVE PLANS; SUBJECT TO FORFEITURE.
(2)	THE OPTIONS VESTED IN EQUAL INSTALLMENTS OVER FOUR YEARS; THE OPTIONS WERE FULLY VESTED AS OF 8/30/09.
(3)	THE OPTIONS VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS; OPTIONS EXERCISED VESTED ON 01/29/10, THE REMAINING OPTIONS WILL VEST ON 01/29/11, 01/29/12 AND 01/29/13.
(4)	THE OPTIONS VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS; OPTIONS EXERCISED VESTED ON 02/08/10, THE REMAINING OPTIONS WILL VEST ON 02/08/11 AND 02/08/12.
(5)	THE OPTIONS VEST IN EQUAL INSTALLMENTS OVER FOUR YEARS; OPTIONS EXERCISED VESTED ON 09/19/09, THE REMAINING OPTIONS WILL VEST ON 09/19/10 AND 09/19/11.

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