<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ALASKA AIR
GROUP INC THIRD QUARTER 1997 FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                           98700
<SECURITIES>                                     93300
<RECEIVABLES>                                    88100
<ALLOWANCES>                                         0
<INVENTORY>                                      46000
<CURRENT-ASSETS>                                 62800
<PP&E>                                         1302100
<DEPRECIATION>                                  387400
<TOTAL-ASSETS>                                 1450700
<CURRENT-LIABILITIES>                           507800
<BONDS>                                         411600
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         17500
<OTHER-SE>                                      318600
<TOTAL-LIABILITY-AND-EQUITY>                   1450700
<SALES>                                        1316600
<TOTAL-REVENUES>                               1316600
<CGS>                                          1204800
<TOTAL-COSTS>                                  1204800
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               25600
<INCOME-PRETAX>                                  98900
<INCOME-TAX>                                     41600
<INCOME-CONTINUING>                              57300
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     57300
<EPS-PRIMARY>                                     3.93
<EPS-DILUTED>                                     2.80