Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Alaska Airlines, Inc.

(In thousands, except ratios)



|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|------------------------------------------------------------------------------------- |  | ---- | ------- | - | ---- | - | ------- | ---- |  | - | ------- | - |  | ---- | ------- | - |  | - | ------- | -
|                                                                                      |  | 2007 |         |   | 2006 |   |         | 2005 |  |   | 2004    |   |  | 2003 |        
|Earnings:                                                                             |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Income (loss) before income tax expense (benefit) and accounting change               |  | $    | 216,000 |   |      | $ | (92,200 | )    |  | $ | 124,200 |   |  | $    | (27,000 | ) |  | $ | 11,800  |  
|Less: Capitalized interest                                                            |  |      | (25,700 | ) |      |   | (21,500 | )    |  |   | (8,100  | ) |  |      | (1,100  | ) |  |   | (1,500  | )
|Add:                                                                                  |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest on indebtedness                                                              |  |      | 84,347  |   |      |   | 71,489  |      |  |   | 50,167  |   |  |      | 44,136  |   |  |   | 45,164  |  
|Amortization of debt expense                                                          |  |      | 1,853   |   |      |   | 1,811   |      |  |   | 1,006   |   |  |      | 944     |   |  |   | 916     |  
|Amortization of capitalized interest                                                  |  |      | 5,403   |   |      |   | 4,756   |      |  |   | 4,707   |   |  |      | 4,811   |   |  |   | 4,990   |  
|Portion of rent under long-term operating leases representative of an interest factor |  |      | 77,021  |   |      |   | 73,801  |      |  |   | 74,691  |   |  |      | 68,181  |   |  |   | 66,590  |  
|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Earnings Available for Fixed Charges                                                  |  | $    | 358,924 |   |      | $ | 38,157  |      |  | $ | 246,671 |   |  | $    | 89,972  |   |  | $ | 127,960 |  
|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|                                                                                      |  |      |         |   |     
|Fixed Charges:                                                                        |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Interest                                                                              |  |      | 84,347  |   |      |   | 71,489  |      |  |   | 50,167  |   |  |      | 44,136  |   |  |   | 45,164  |  
|Amortization of debt expense                                                          |  |      | 1,853   |   |      |   | 1,811   |      |  |   | 1,006   |   |  |      | 944     |   |  |   | 916     |  
|Portion of rent under long-term operating leases representative of an interest factor |  |      | 77,021  |   |      |   | 73,801  |      |  |   | 74,691  |   |  |      | 68,181  |   |  |   | 66,590  |  
|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Total Fixed Charges                                                                   |  | $    | 163,221 |   |      | $ | 147,101 |      |  | $ | 125,864 |   |  | $    | 113,261 |   |  | $ | 112,670 |  
|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Ratio of Earnings to Fixed Charges                                                    |  |      | 2.20    |   |      |   | 0.26    |      |  |   | 1.96    |   |  |      | 0.79    |   |  |   | 1.14    |  
|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |  
|Coverage deficiency                                                                   |  | $    |        |   |      | $ | 108,944 |      |  | $ |        |   |  | $    | 23,289  |   |  |   |        |  
|                                                                                      |  |      |         |   |      |   |         |      |  |   |         |   |  |      |         |   |  |   |         |