Alaska Air Group (ALK)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Filed by the Registrant x   Filed by a Party other than the Registrant ¨

Check the appropriate box:

Alaska Air Group, Inc.

(Name of Registrant as Specified In Its Charter)

Payment of Filing Fee (Check the appropriate box):

Alaska Air Group, Inc.

IMPORTANT ANNUAL MEETING INFORMATION +

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ENDORSEMENT LINE SACKPACK

MR A SAMPLE

DESIGNATION (IF ANY) ADD 1 ADD 2 ADD 3 ADD 4 ADD 5 ADD 6

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Vote by Internet

Go to www.envisionreports.com/alk

Or scan the QR code with your smartphone

Follow the steps outlined on the secure website

Stockholder Meeting Notice 1234 5678 9012 345

Important Notice Regarding the Availability of Proxy Materials for the

Alaska Air Group, Inc. Stockholders Meeting to be held on May 15, 2012

Under new Securities and Exchange Commission rules, you are receiving this notice that the proxy materials for the annual stockholders meeting are available on the Internet. Follow the instructions below to view the materials and vote online or request a copy. The items to be voted on and location of the annual meeting are on the reverse side. Your vote is important!

This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. We encourage you to access and review all of the important information contained in the proxy materials before voting. The proxy statement and annual report to stockholders are available at:

www.envisionreports.com/alk

Easy Online Access — A Convenient Way to View Proxy Materials and Vote

When you go online to view materials, you can also vote your shares.

Step 1: Go to www.envisionreports.com/alk to view the materials.

Step 2: Click on Cast Your Vote or Request Materials.

Step 3: Follow the instructions on the screen to log in.

Step 4: Make your selection as instructed on each screen to select delivery preferences and vote.

When you go online, you can also help the environment by consenting to receive electronic delivery of future materials.

Obtaining a Copy of the Proxy Materials – If you want to receive a paper or e-mail copy of these documents, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy as instructed on the reverse side on or before May 1, 2012, to facilitate timely delivery.

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Alaska Air Group’s Stockholder Meeting Notice

Alaska Air Group’s Annual Meeting of Stockholders will be held on May 15, 2012, at the Museum of Flight — 9404 East Marginal Way South, Seattle, WA, at 2 p.m. Pacific Time.

Proposals to be voted on at the meeting are listed below along with the Board of Directors’ recommendations.

The Board of Directors recommends a vote FOR all the nominees listed, a vote FOR Proposals 2 and 3, and a vote AGAINST Proposal 4.

1. Election of Nominees for the Board of Directors Nominees:

01. William S. Ayer 02. Patricia M. Bedient 03. Marion C. Blakey 04. Phyllis J. Campbell 05. Jessie J. Knight, Jr.

06. R. Marc Langland 07. Dennis F. Madsen 08. Byron I. Mallott 09. J. Kenneth Thompson 10. Bradley D. Tilden

2. Ratification of Appointment of KPMG LLP as the Company’s Independent Accountants

3. Advisory Vote to Approve Named Executive Officer Compensation.

4. Stockholder Proposal Regarding Retention of Company Stock by Executives

PLEASE NOTE – YOU CANNOT VOTE BY RETURNING THIS NOTICE. To vote your shares you must vote online or request a paper copy of the proxy materials to receive a proxy card. If you wish to attend and vote at the meeting, please bring this notice with you. Employees who hold shares in one of the Company’s 401(k) plans may not vote these shares in person at the meeting.

Directions to the Alaska Air Group, Inc. 2012 Annual Stockholders Meeting

The Museum of Flight is located south of downtown Seattle, at the south end of Boeing Field/King County Airport; take Exit 158 off Interstate 5.

Here’s how to order a copy of the proxy materials and select a future delivery preference:

Paper copies: Current and future paper delivery requests can be submitted via the telephone, Internet or email options below. Email copies: Current and future email delivery requests must be submitted via the Internet following the instructions below. If you request an email copy of current materials you will receive an email with a link to the materials.

PLEASE NOTE: You must use the number in the shaded bar on the reverse side when requesting a set of proxy materials.

Internet – Go to www.envisionreports.com/alk. Click Cast Your Vote or Request Materials. Follow the instructions to log in and order a paper or email copy of the current meeting materials and submit your preference for email or paper delivery of future meeting materials.

Telephone – Call us free of charge at 1-866-641-4276 using a touch-tone phone and follow the instructions to log in and order a paper copy of the materials by mail for the current meeting. You can also submit a preference to receive a paper copy for future meetings.

Email – Send an email to investorvote@computershare.com with “Proxy Materials Alaska Air Group, Inc.” in the subject line. Include in the message your full name and address, plus the number located in the shaded bar on the reverse side, and state in the email that you want a paper copy of current meeting materials. You can also state your preference to receive a paper copy for future meetings.

To facilitate timely delivery, all requests for a paper copy of the proxy materials must be received by May 1, 2012.

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