UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934
February 20, 1997
(Date of Report)
Commission file number 0-19978
ALASKA AIRLINES, INC.
(Exact name of registrant as specified in its charter)
Alaska 92-0009235
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
19300 Pacific Highway South, Seattle, Washington 98188
(Address of principal executive offices)
(206) 431-7079
(Registrant's telephone number)
ITEM 5. Other Information
Change in Employee Profit Sharing Program
Effective for 1997, Alaska Airlines, Inc. (Alaska) changed its employee
profit sharing program. Under the new program, eligible Alaska employees
will receive their pro rata share of 10% of Alaska's adjusted pre-tax
profits. Employees must meet certain service requirements to be eligible.
In addition, certain labor groups at Alaska either do not participate or
participate at a reduced level. Also effective for 1997, employees will be
able to invest their profit sharing payouts in newly issued Air Group
stock. If employees choose to do so, they will purchase the stock at a
15% discount from the market price and they will be required to hold the
stock for two years.
Under the old program, Alaska employees received 50% of adjusted pre-tax
profits where such profits were between 5% and 10% of operating revenues.
The Company anticipates that profit sharing payouts will be less volatile
under the new program.
Signature
Pursuant to the requirements of the Securities Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
ALASKA AIRLINES, INC.
Registrant
Date: February 20, 1997
/s/ Harry G. Lehr
Harry G. Lehr
Senior Vice President/Finance
(Principal Financial Officer)
