<SEC-DOCUMENT>0001246360-16-007397.txt : 20161209
<SEC-HEADER>0001246360-16-007397.hdr.sgml : 20161209
<ACCEPTANCE-DATETIME>20161209192810
ACCESSION NUMBER:		0001246360-16-007397
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20161207
FILED AS OF DATE:		20161209
DATE AS OF CHANGE:		20161209

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALASKA AIR GROUP, INC.
		CENTRAL INDEX KEY:			0000766421
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				911292054
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		19300 INTERNATIONAL BOULEVARD
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98188
		BUSINESS PHONE:		206-392-5040

	MAIL ADDRESS:	
		STREET 1:		19300 INTERNATIONAL BOULEVARD
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98188

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ALASKA AIR GROUP INC
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			YOUNG TAMARA S
		CENTRAL INDEX KEY:			0001558225

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08957
		FILM NUMBER:		162045041

	MAIL ADDRESS:	
		STREET 1:		C/O ALASKA AIRLINES, INC.
		STREET 2:		19300 INTERNATIONAL BLVD
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98188
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>PRIMARY DOCUMENT
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        <issuerCik>0000766421</issuerCik>
        <issuerName>ALASKA AIR GROUP, INC.</issuerName>
        <issuerTradingSymbol>ALK</issuerTradingSymbol>
    </issuer>

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            <rptOwnerName>YOUNG TAMARA S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>19300 INTERNATIONAL BLVD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SEATTLE</rptOwnerCity>
            <rptOwnerState>WA</rptOwnerState>
            <rptOwnerZipCode>98188</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>VP/HUMAN RESOURCES</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

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                </sharesOwnedFollowingTransaction>
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                <transactionPricePerShare>
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                <transactionPricePerShare>
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                    <footnoteId id="F4"/>
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                <value>EMPLOYEE STOCK OPTION (RT TO BUY)</value>
            </securityTitle>
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            </conversionOrExercisePrice>
            <transactionDate>
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                <equitySwapInvolved>false</equitySwapInvolved>
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                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2013-09-17</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-09-17</value>
            </expirationDate>
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                <underlyingSecurityTitle>
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            </securityTitle>
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            </transactionDate>
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                <transactionCode>M</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
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                    <value>597</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <value>2016-02-10</value>
                <footnoteId id="F3"/>
            </exerciseDate>
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                <value>2025-02-10</value>
            </expirationDate>
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                <underlyingSecurityTitle>
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    <footnotes>
        <footnote id="F1">STOCK UNITS AWARDED UNDER ALASKA AIR GROUP'S 2008 PERFORMANCE INCENTIVE PLAN; SUBJECT TO FORFEITURE.</footnote>
        <footnote id="F2">OPTIONS REMAINING VEST AS FOLLOWS:  794 ON 2/11/2017 AND 796 ON 2/11/2018.</footnote>
        <footnote id="F3">OPTIONS REMAINING VEST AS FOLLOWS:  598 ON 2/10/2017; 597 ON 2/10/2018 AND 598 ON 2/10/2019.</footnote>
        <footnote id="F4">THE PRICE REPORTED IN COLUMN 4 IS A WEIGHTED AVERAGE PRICE.  THESE SHARES SOLD IN MULTIPLE TRANSACTIONS AT PRICES RANGING FROM $86.1720 TO $86.3645, INCLUSIVE.  THE REPORTING PERSON UNDERTAKES TO PROVIDE TO ALASKA AIR GROUP, ANY SECURITY HOLDER OF ALASKA AIR GROUP, OR THE STAFF OF THE SECURITIES AND EXCHANGE COMMISSION, UPON REQUEST, FULL INFORMATION REGARDING THE NUMBER OF SHARES SOLD AT EACH SEPARATE PRICE WITHIN THE RANGES SET FORTH IN THIS FOOTNOTE.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/S/ JEANNE E GAMMON, ATTORNEY IN FACT FOR TAMARA S YOUNG</signatureName>
        <signatureDate>2016-12-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
