<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ALASKA AIR GROUP INC 1996 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <RESTATED> <MULTIPLIER> 1000 <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> DEC-31-1996 <CASH> 49400 <SECURITIES> 52400 <RECEIVABLES> 71000 <ALLOWANCES> 1300 <INVENTORY> 47800 <CURRENT-ASSETS> 300200 <PP&E> 1215200 <DEPRECIATION> 351800 <TOTAL-ASSETS> 1311400 <CURRENT-LIABILITIES> 485800 <BONDS> 404100 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 17200 <OTHER-SE> 255300 <TOTAL-LIABILITY-AND-EQUITY> 1311400 <SALES> 1592200 <TOTAL-REVENUES> 1592200 <CGS> 1503200 <TOTAL-COSTS> 1503200 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 38400 <INCOME-PRETAX> 64300 <INCOME-TAX> 26300 <INCOME-CONTINUING> 38000 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 38000 <EPS-PRIMARY> 2.67 <EPS-DILUTED> 2.05