Market Overview

Alaska Air Group Reports May Operational Results; Revenue per Passenger Mile up 6.7% in May, 8.8% YoY

Alaska Air Group (NYSE: ALK) today reported May and year-to-date operational results for its subsidiaries, Alaska Airlines and Horizon Air, and on a combined basis. Detailed information is provided below.

ALASKA AIRLINES - MAINLINE Alaska reported a 6.7 percent increase in traffic on a 7.3 percent increase in capacity compared to May 2012. This resulted in a 0.4 point decrease in load factor to 86.5 percent. Alaska also reported 89.6 percent of its flights arrived on time in May, compared to the 91.4 percent reported in May 2012.

The following table shows Alaska's operational results for May and year-to-date 2013, compared to the prior-year periods:

May Year-to-Date

2013 2012 Change 2013 2012 Change Revenue passengers (in thousands) 1,666 1,566 6.4 % 7,815 7,355 6.2 % Revenue passenger miles RPM (in millions) 2,197 2,058 6.7 % 10,537 9,681 8.8 % Available seat miles ASM (in millions) 2,541 2,369 7.3 % 12,242 11,216 9.2 % Passenger load factor 86.5 % 86.9 % (0.4) pts 86.1 % 86.3 % (0.2) pts On-time arrivals as reported to U.S. DOT 89.6 % 91.4 % (1.8) pts 87.8 % 87.3 % 0.5 pts

HORIZON AIR Horizon reported a 7.6 percent increase in May traffic on a 2.5 percent increase in capacity compared to May 2012. This resulted in a 3.7 point increase in load factor to a May record of 80.3 percent. Horizon also reported 90.8 percent of its flights arrived on time in May, compared to the 94.4 percent reported in May 2012.

The following table shows Horizon's operational results for May and year-to-date 2013, compared to the prior-year periods:

May Year-to-Date

2013 2012 Change 2013 2012 Change Revenue passengers (in thousands) 595 549 8.4 % 2,835 2,663 6.5 % RPMs (in millions) 180 167 7.6 % 862 811 6.3 % ASMs (in millions) 224 219 2.5 % 1,090 1,065 2.3 % Passenger load factor 80.3 % 76.6 % 3.7 pts 79.1 % 76.2 % 2.9 pts On-time arrivals as reported to U.S. DOT 90.8 % 94.4 % (3.6) pts 89.5 % 90.6 % (1.1) pts

AIR GROUP On a combined basis, Air Group reported a 6.6 percent increase in traffic on a 6.6 percent increase in capacity compared to May 2012. This resulted in a flat year-over-year load factor of 86.0 percent. These statistics include flights operated by Alaska and those under capacity purchase agreements, including Horizon, SkyWest and PenAir.

The following table shows the operational results for May and year-to-date 2013, compared to the prior-year periods:

May Year-to-Date

2013 2012 Change 2013 2012 Change Revenue passengers (in thousands) 2,305 2,162 6.6 % 10,868 10,251 6.0 % RPMs (in millions) 2,415 2,266 6.6 % 11,585 10,687 8.4 % ASMs (in millions) 2,809 2,635 6.6 % 13,550 12,512 8.3 % Passenger load factor 86.0 % 86.0 % — 85.5 % 85.4 % 0.1 pts

Alaska Airlines, a subsidiary of Alaska Air Group (NYSE: ALK), together with its partner regional airlines, serves 95 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico. Alaska Airlines has ranked "Highest in Customer Satisfaction Among Traditional Network Carriers" in the J.D. Power and Associates North America Airline Satisfaction StudySM for six consecutive years from 2008 to 2013. For reservations, visit www.alaskaair.com. For more news and information, visit the Alaska Airlines Newsroom at www.alaskaair.com/newsroom.

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