Alaska Air Group Board Adopts Shareholder Right to Call Special Meetings

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Apr 30, 2010, 07:31 ET

SEATTLE, April 30 /PRNewswire-FirstCall/ -- Alaska Air Group's board of directors today announced it has voted to amend the company's bylaws to adopt a shareholder right to call special meetings. Effective immediately, the amendment allows shareholders collectively owning at least 10 percent of Alaska Air Group's shares to call a special meeting.

A shareholder right to call special meetings has been the subject of shareholder proposals in two of the past four years. In 2007, the proposal was defeated, and in 2009, the proposal passed.

"Although our shareholders were in favor of the concept of the right to call a special meeting, there has been mixed opinion about the appropriate threshold of ownership for calling such a meeting," said Keith Loveless, Alaska Air Group's corporate secretary. "As a result of recent discussions with some of our top shareholders, shareholders will now have the right to call special meetings if the 10 percent ownership threshold is met."

Alaska Airlines and Horizon Air, subsidiaries of Alaska Air Group (NYSE: ALK), together serve more than 90 cities through an expansive network in Alaska, the Lower 48, Hawaii, Canada and Mexico. Alaska Airlines ranked "Highest in Customer Satisfaction Among Traditional Network Carriers" in the J.D. Power and Associates 2008 and 2009 North America Airline Satisfaction Studies(SM). For reservations, visit alaskaair.com. For more news and information, visit the Alaska Airlines/Horizon Air Newsroom at alaskaair.com/newsroom.

SOURCE Alaska Air Group