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Exhibit 12(a)

Alaska Air Group, Inc.

Computation of Ratio of Earnings to Fixed Charges

(In thousands, except ratios)

	Three Months Ended March 31,						Year Ended December 31,
	2001			2000			2000			1999			1998			1997			1996
Earnings:
Income (loss) before income tax and accounting change	$	(51,300	)	$	(15,400	)	$	(15,700	)	$	220,700		$	204,400		$	123,600		$	64,349
Less: Capitalized interest		(3,600	)		(3,400	)		(15,500	)		(10,200	)		(6,600	)		(5,300	)		(1,031	)
Add:
Interest on indebtedness		12,100			7,900			36,000			16,300			21,200			33,600			38,394
Amortization of debt expense		183			67			330			440			682			685			1,224
Portion of rent under long-term operating leases representative of an interest factor		20,540			19,588			80,680			81,437			80,547			72,900			71,562
Earnings Available for Fixed Charges	$	(22,077	)	$	8,755		$	85,810		$	308,677		$	300,229		$	225,485		$	174,498
Fixed Charges:
Interest		12,100			7,900			36,000			16,300			21,200			33,600			38,394
Amortization of debt expense		183			67			330			440			682			685			1,224
Portion of rent under long-term operating leases representative of an interest factor		20,540			19,588			80,680			81,437			80,547			72,900			71,562
Total Fixed Charges	$	32,823		$	27,555		$	117,010		$	98,177		$	102,429		$	107,185		$	111,180
Ratio of Earnings to Fixed Charges		(0.67	)		0.32			0.73			3.14			2.93			2.10			1.57
Coverage deficiency	$	54,900		$	18,800		$	31,200			—			—			—			—

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Exhibit 12(a)

Alaska Air Group, Inc. Computation of Ratio of Earnings to Fixed Charges (In thousands, except ratios)