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 * PINNEO JEFFREY D   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) FORMER PRES & CEO, HORIZON AIR (Last) (First) (Middle) HORIZON AIR INDUSTRIES INC, 19521 INTERNATIONAL BLVD 3. Date of Earliest Transaction (Month/Day/Year) 08/09/2010 (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 08/09/2010   M   30,000 A $ 27.85 37,932 D   COMMON STOCK 08/09/2010   M   10,800 A $ 26.1 48,732 D   COMMON STOCK 08/09/2010   S   19,603 D $ 53 29,129 D   COMMON STOCK 08/09/2010   S   21,197 D $ 54 7,932 D   COMMON STOCK (1)               17,400 D   COMMON STOCK (2)               3,571 I ESOP TRUST

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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)

$ 27.85

08/09/2010

M

30,000

05/31/2006(3)

05/31/2012

COMMON

30,000

$ 0

0

D

EMP STOCK OPTION (RT TO BUY)

$ 26.1

08/09/2010

M

10,800

03/01/2008(4)

03/01/2014

COMMON

10,800

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PINNEO JEFFREY D HORIZON AIR INDUSTRIES INC 19521 INTERNATIONAL BLVD SEATTLE, WA 98188			FORMER PRES & CEO, HORIZON AIR

Signatures

KAREN A. GRUEN, ATTORNEY IN FACT FOR JEFFREY D. PINNEO		08/11/2010
**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; NO LONGER SUBJECT TO FORFEITURE BUT UNVESTED.
(2)	SHARES HELD IN AN ALASKA AIR GROUP, INC. EMPLOYEE STOCK OWNERSHIP 401(K) PLAN TRUST AS OF DECEMBER 31, 2009.
(3)	OPTIONS VESTED IN EQUAL INSTALLMENTS OVER FOUR YEARS AND WERE FULL EXERCISABLE AS OF 5/31/2006.
(4)	OPTIONS VESTED IN FOUR EQUAL INSTALLMENTS OVER FOUR YEARS AND WERE FULLY EXERCISABLE AS OF 3/1/2008.

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