Alaska Air Group Announces Stock Repurchase Program

SEATTLE, June 13, 2011 /PRNewswire/ — Alaska Air Group Inc. (NYSE: ALK) today announced that its board of directors approved a stock repurchase program authorizing the company to buy up to $50 million of its common stock.

“This action continues programs we’ve carried out over the past several years,” Air Group Chairman and CEO Bill Ayer said. “The programs are consistent with the company’s practice of repurchasing shares opportunistically and underscores our commitment to providing a reasonable return to investors while preserving our strong cash balance.”

The company intends to finance the repurchases with cash on hand. The repurchase program authorizes the company to purchase its common stock from time to time through open market purchases, negotiated transactions or other means, including accelerated share repurchases and 10b5-1 trading plans in accordance with applicable securities laws.

Alaska Air Group has repurchased a total of approximately 7.5 million shares of its common stock for nearly $212 million through similar programs over the past four years.

Alaska Airlines and Horizon Air, subsidiaries of Alaska Air Group (NYSE: ALK), together serve 90 cities throughout Alaska, the Lower 48, Hawaii, Canada and Mexico. For reservations, visit www.alaskaair.com. For more news and information, visit the Alaska Airlines/Horizon Air Newsroom at www.alaskaair.com/newsroom.

SOURCE Alaska Air Group Inc.