ITEM 2.06 Material Impairment

Alaska Air Group, Inc. (the Company) management has authorized a plan to retire its Q400 fleet prior to the end of their recorded useful lives. As a result of this decision, the Company evaluated the fleet for impairment and concluded that the carrying value was no longer recoverable. As of December 31, 2021 the net book value of the fleet and related assets was approximately $115 million. Management is currently evaluating the magnitude of the expected impairment.

ITEM 7.01. Regulation FD Disclosure

On March 24, 2022, the Company hosted its Investor Relations Day in New York and live via webcast today. Materials used in conjunction with the presentation are furnished as Exhibit 99.1 to this Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information under this item shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of regulation FD.

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