Vanguard Airlines Reports The Highest April Load Factor In Company History

Kansas City, MO—Vanguard Airlines, Inc. (OTC: VNGD) reported that for the month of April 1999, traffic increased 18% to approximately 68.8 million revenue passenger miles (RPMs) in April 1999 from approximately 58.4 million in April 1998. Capacity increased 13% to approximately 97.0 million available seat miles (ASMs) in April 1999 versus 86.2 million in April 1998. Load factor increased three points to 71.0% in April 1999 from approximately 67.8% in April 1998.


Year-to-date RPMs increased 7% to approximately 242.6 million in 1999 from approximately 225.9 million in 1998. Year-to-date ASMs increased 2% to approximately 349.4 million in 1999 from approximately 343.5 million in 1998. Year-to-date load factor increased approximately four points to 69.4% in 1999 from 65.8% in 1998.


Robert J. “Rocky” Spane, President and CEO of Vanguard said, “Our recent capacity additions, represented by increased frequencies in certain markets and new service to Cincinnati, performed well during the month. Year-over-year, all our key revenue indicators, including yield, have improved.”


Vanguard, 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 nine cities: Atlanta, Chicago-Midway, Cincinnati, Dallas/Ft. Worth, Denver, Kansas City, Minneapolis/St. Paul, Myrtle Beach and Pittsburgh. The Company employs approximately 800 full-time equivalent employees and currently operates a fleet of eleven Boeing 737-200`s. The Company has signed letters of intent for three replacement aircraft, with anticipated delivery dates in the second half of 1999.


RPMs (000)
APRIL 1999: 68,804
APRIL 1998: 58,420
% CHANGE: 18%
YTD 1999: 242,591
YTD 1998: 225,931
% CHANGE: 7%

ADVERTISEMENT

ASMs (000)
APRIL 1999: 96,974
APRIL 1998: 86,201
% CHANGE: 13%
YTD 1999: 349,365
YTD 1998: 343,530
% CHANGE: 2%

Load Factor
APRIL 1999: 71.0%
APRIL 1998: 67.8%
CHANGE: 3 pts.
YTD 1999: 69.4%
YTD 1998: 65.8%
CHANGE: 4 pts.

Passengers
APRIL 1999: 154,748
APRIL 1998: 124,359
% CHANGE: 24%
YTD 1999: 526,496
YTD 1998: 470,509
% CHANGE: 12%

——-