SEC FORM 3 SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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1. Name and Address of Reporting Person*
MADSEN DENNIS F

(Last) (First) (Middle)
19300 INTERNATIONAL BOULEVARD SOUTH

(Street)
SEATTLE WA 98188

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
12/01/2003
3. Issuer Name and Ticker or Trading Symbol
ALASKA AIR GROUP INC [ ALK ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of 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
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
No Securities Owned $0 D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
Remarks:
Shannon K. Alberts, Attorney in Fact for Dennis F. Madsen 12/02/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
 I hereby authorize Alaska Air Group General Counsel and Corporate Secretary
Keith Loveless, Assistant Corporate Secretary Shannon K. Alberts and
Assistant Corporate Secretary Irv Bertram to sign on my behalf all
Securities & Exchange Commission reports in connection with changes of my
beneficial ownership of Alaska Air Group, Inc. securities.

	   This
Power of Attorney shall remain in full force and effect until revoked by
the undersigned in a signed writing delivered to such attorney-in-fact.


	IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to
be executed as of this 2nd day of December, 2003.


______________________________
Dennis F. Madsen


STATE
OF WASHINGTON

COUNTY OF KING

	On this 2nd day of
December, 2003, Dennis F. Madsen personally appeared before me, and
acknowledged that he executed the foregoing instrument for the purposes
therein contained.

	IN WITNESS WHEREOF, I have hereunto set my hand
and official seal.




								 Wendy Ann Schopf

								 Notary Public
								 My Commission Expires: 11/28/06