ALASKA AIR GROUP, INC.

AIRCRAFT

The following table describes the aircraft we operate and their average age at December 31, 2025:

Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report on Form 10-K discusses future orders and options for additional aircraft. “Liquidity and Capital Resources” provides more information about aircraft that are used to secure long-term debt arrangements or collateralize credit facilities. Note 6 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K provides more information regarding leased aircraft as capitalized on our consolidated balance sheets.

Aircraft leases

Our airlines lease B737-800F, B737-800, B737-9, A321-200neo, A330-200, A330-300F, and E175 aircraft types. The leases for the B737-800F expire in 2034. The leases for the B737-800 aircraft expire between 2026 and 2030. The leases for the B737-9 aircraft expire between 2031 and 2035. The leases for the A321neo aircraft expire between 2030 and 2032. The leases for the A330-200 aircraft expire between 2026 and 2034. The leases for the A330-300F expire in 2030. The leases for the E175 aircraft, which support Alaska's capacity purchase agreement with SkyWest, expire between 2030 and 2034. Our airlines have the option to extend some of the leases for additional periods.

OTHER PROPERTIES

In various cities in Alaska, we own terminal buildings and hangars. We also own or lease several buildings located at or near Seattle-Tacoma International Airport. These include a multi-bay hangar and shops complex (used primarily for line maintenance), a flight operations and training center, an air cargo facility, a data center, and various other commercial office buildings. In various cities in Hawai'i, we own or lease various properties. In Honolulu, our principal terminal facilities, cargo facilities and hangar and maintenance facilities are located at Daniel K. Inouye International Airport (HNL). The majority of the facilities at HNL are leased on a month-to-month basis. We are also charged for the use of terminal facilities at other Neighbor Island airports owned by the State of Hawai'i. Some terminal facilities, including gates and holding rooms, are considered by the State of Hawai'i to be common areas and thus are not exclusively controlled by us. We also utilize other State of Hawai'i facilities, including station manager offices, Premier Club lounges, and operations support space.

At the majority of the airports we serve, we lease ticket counters, gates, cargo and baggage space, ground equipment, office space, and other support areas. Airport leases contain provisions for periodic adjustments of lease rates. We are typically responsible for maintenance, insurance and other facility-related expenses and services under these agreements. We also lease operations, training, administrative, and data center facilities in Burlingame, CA; Long Beach, CA; Honolulu, HI; Portland, OR; Puyallup, WA; Quincy, WA; Seattle, WA; and Spokane, WA, call center facilities in Phoenix, AZ and Boise, ID, and hangars in Portland, OR, Everett, WA, and Spokane, WA.