<SEC-DOCUMENT>0001040188-25-000070.txt : 20251024
<SEC-HEADER>0001040188-25-000070.hdr.sgml : 20251024
<ACCEPTANCE-DATETIME>20251024095258
ACCESSION NUMBER:		0001040188-25-000070
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251024
DATE AS OF CHANGE:		20251024

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ALASKA AIR GROUP, INC.
		CENTRAL INDEX KEY:			0000766421
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				911292054
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-36542
		FILM NUMBER:		251414662

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VICTORY CAPITAL MANAGEMENT INC
		CENTRAL INDEX KEY:			0001040188
		ORGANIZATION NAME:           	
		EIN:				132700161
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		15935 LA CANTERA PARKWAY
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78256
		BUSINESS PHONE:		2168982400

	MAIL ADDRESS:	
		STREET 1:		15935 LA CANTERA PARKWAY
		CITY:			SAN ANTONIO
		STATE:			TX
		ZIP:			78256

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEY ASSET MANAGEMENT INC/OH
		DATE OF NAME CHANGE:	19990325
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: VICTORY CAPITAL MANAGEMENT INC -->
          <cik>0001040188</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>3</amendmentNo>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0000766421</issuerCik>
        <issuerName>ALASKA AIR GROUP, INC.</issuerName>
        <issuerCusip>011659109</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>19300 INTERNATIONAL BOULEVARD</com:street1>
          <com:city>Seattle</com:city>
          <com:stateOrCountry>WA</com:stateOrCountry>
          <com:zipCode>98188</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Victory Capital Management, Inc.</reportingPersonName>
      <citizenshipOrOrganization>NY</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>57715.00</soleVotingPower>
        <sharedVotingPower>0.00</sharedVotingPower>
        <soleDispositivePower>57715.00</soleDispositivePower>
        <sharedDispositivePower>0.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>57715.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>.05</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>ALASKA AIR GROUP, INC.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>19300 International Boulevard Seatac, WA 98188</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Victory Capital Management, Inc.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>15935 La Cantera Pkwy
San Antonio, TX 78256</principalBusinessOfficeOrResidenceAddress>
        <citizenship>New York</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>57,715</amountBeneficiallyOwned>
        <classPercent>.05</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>57,715</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>57,715</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>N</notApplicableFlag>
        <classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Victory Capital Management, Inc.</reportingPersonName>
      <signatureDetails>
        <signature>Sean Fox</signature>
        <title>Chief Compliance Officer</title>
        <date>10/24/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
