<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ALASKA AIR GROUP, INC. 1997 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> DEC-31-1997 <CASH> 102600 <SECURITIES> 110100 <RECEIVABLES> 73800 <ALLOWANCES> 1200 <INVENTORY> 47200 <CURRENT-ASSETS> 424600 <PP&E> 1361900 <DEPRECIATION> 401300 <TOTAL-ASSETS> 1533100 <CURRENT-LIABILITIES> 473300 <BONDS> 401400 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 21000 <OTHER-SE> 454300 <TOTAL-LIABILITY-AND-EQUITY> 1533100 <SALES> 1739400 <TOTAL-REVENUES> 1739400 <CGS> 1600400 <TOTAL-COSTS> 1600400 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 33600 <INCOME-PRETAX> 123600 <INCOME-TAX> 51200 <INCOME-CONTINUING> 72400 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 72400 <EPS-PRIMARY> 4.90 <EPS-DILUTED> 3.53