Vanguard Airlines Reports The Highest October Load Factor In Company History

Kansas City, MO—Vanguard Airlines, Inc. (OTC: VNGD) reported that for the month of October 1998 load factor increased approximately 11 points to 61.7% from 51.1% in October 1997. Traffic was approximately 56.1 million revenue passenger miles (RPMs) in October 1998 versus 46.5 million in October 1997. Capacity was approximately 91.0 million available seat miles (ASMs) in October 1998 versus 90.9 million in October 1997.
Robert J. “Rocky” Spane, CEO and President of Vanguard Airlines, said, “October is one of the weakest months of the year for air travel. Our load factor increase, supported by a year-over-year rise in passenger yield of almost 35%, is very encouraging. We remain confident that we will be able to turn Vanguard`s 1997 operating loss of $25 million into a modest profit this year.”

Year-to-date results for 1998 versus year-to-date 1997 were as follows: Year-to-date RPMs in 1998 decreased 11% from approximately 654.7 million in 1997 to approximately 585.2 million in 1998. Year-to-date ASMs in 1998 decreased 22% from approximately 1,104.7 million in 1997 to approximately 866.6 million in 1998. Year-to-date load factor in 1998 increased approximately eight points from 59.3% in 1997 to 67.5% in 1998.

Vanguard Airlines, which began service in December 1994 and is headquartered in Kansas City, is a low-fare, passenger airline providing convenient, scheduled jet service. Vanguard serves the following eight cities: Atlanta, Chicago-Midway, Dallas/Ft. Worth, Denver, Kansas City, Minneapolis/St. Paul, Myrtle Beach and Pittsburgh. The Company employs approximately 800 full-time employees and currently operates a fleet of nine Boeing 737-200`s.