FOIA CONFIDENTIAL TREATMENT REQUESTED
by and among
ALASKA AIRLINES, INC.
THE LENDERS THAT ARE SIGNATORIES HERETO
as the Lenders,
WELLS FARGO CAPITAL FINANCE, LLC
as Agent, as Co-Lead Arranger, and as Joint Bookrunner,
U.S. BANK NATIONAL ASSOCIATION
as Documentation Agent, as Co-Lead Arranger, and as Joint Bookrunner
Dated as of March 31, 2010
THIS CREDIT AGREEMENT (this “ Agreement ”), is entered into as of March 31, 2010
by and among the lenders identified on the signature pages hereof (each of such lenders, together with their
respective successors and permitted assigns, are referred to hereinafter as a “ Lender ”, as that term is hereinafter
further defined), WELLS FARGO CAPITAL FINANCE, LLC , a Delaware limited liability company, as
agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “ Agent ”), as
co-lead arranger, and as joint bookrunner, U.S. BANK NATIONAL ASSOCIATION (“ US Bank ”), as
documentation agent, as co-lead arranger, and as joint bookrunner, and ALASKA AIRLINES, INC. , an
Alaska corporation (“ Borrower ”).
The parties agree as follows:
1. DEFINITIONS AND CONSTRUCTION.
1.1 Definitions . Capitalized terms used in this Agreement shall have the meanings specified
therefor on Schedule 1.1 .
1.2 Accounting Terms . All accounting terms not specifically defined herein shall be construed
in accordance with GAAP; provided , however , that if Borrower notifies Agent that Borrower requests an
amendment to any provision hereof to eliminate the effect of any Accounting Change occurring after the Closing
Date or in the application thereof on the operation of such provision (or if Agent notifies Borrower that the
Required Lenders request an amendment to any provision hereof for