Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Alaska Airlines, Inc.



|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|------------------------------------------------------------------------------------- |  | ---- | -------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------- | - |  | - | ------- | -
|(In thousands, except ratios)                                                         |  | 2008 |          |   | 2007 |   |         | 2006 |  |   | 2005    |   |  | 2004 |        
|Earnings:                                                                             |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Income (loss) before income tax expense (benefit) and accounting change               |  | $    | (153,300 | ) |      | $ | 215,000 |      |  | $ | (94,700 | ) |  | $    | 124,200 |   |  | $ | (27,000 | )
|Less: Capitalized interest                                                            |  |      | (20,200  | ) |      |   | (25,700 | )    |  |   | (21,500 | ) |  |      | (8,100  | ) |  |   | (1,100  | )
|Add:                                                                                  |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest on indebtedness                                                              |  |      | 90,200   |   |      |   | 84,300  |      |  |   | 71,500  |   |  |      | 50,167  |   |  |   | 44,136  |  
|Amortization of debt expense                                                          |  |      | 2,300    |   |      |   | 1,900   |      |  |   | 1,800   |   |  |      | 1,006   |   |  |   | 944     |  
|Amortization of capitalized interest                                                  |  |      | 5,977    |   |      |   | 5,403   |      |  |   | 4,756   |   |  |      | 4,707   |   |  |   | 4,811   |  
|Portion of rent under long-term operating leases representative of an interest factor |  |      | 73,769   |   |      |   | 77,021  |      |  |   | 73,801  |   |  |      | 74,691  |   |  |   | 68,181  |  
|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Earnings Available for Fixed Charges                                                  |  | $    | (1,254   | ) |      | $ | 357,924 |      |  | $ | 35,657  |   |  | $    | 246,671 |   |  | $ | 89,972  |  
|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Fixed Charges:                                                                        |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest                                                                              |  |      | 90,200   |   |      |   | 84,300  |      |  |   | 71,500  |   |  |      | 50,167  |   |  |   | 44,136  |  
|Amortization of debt expense                                                          |  |      | 2,300    |   |      |   | 1,900   |      |  |   | 1,800   |   |  |      | 1,006   |   |  |   | 944     |  
|Portion of rent under long-term operating leases representative of an interest factor |  |      | 73,769   |   |      |   | 77,021  |      |  |   | 73,801  |   |  |      | 74,691  |   |  |   | 68,181  |  
|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Fixed Charges                                                                   |  | $    | 166,269  |   |      | $ | 163,221 |      |  | $ | 147,101 |   |  | $    | 125,864 |   |  | $ | 113,261 |  
|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges                                                    |  |      | (0.01    | ) |      |   | 2.19    |      |  |   | 0.24    |   |  |      | 1.96    |   |  |   | 0.79    |  
|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Coverage deficiency                                                                   |  | $    | 167,523  |   |      | $ |        |      |  | $ | 111,444 |   |  | $    |        |   |  | $ | 23,289  |  
|                                                                                      |  |      |          |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |