Vanguard Airlines Reports March Traffic

Kansas City, MO—Vanguard Airlines, Inc. (OTC: VNGD) reported that for the month of March 1999, traffic was approximately 63.8 million revenue passenger miles (RPMs) in March 1999 versus 64.6 million in March 1998. Capacity was approximately 92.1 million available seat miles (ASMs) in March 1999 versus 87.4 million in March 1998. Load factor in March 1999 was 69.3% versus 73.9% in March 1998.


Year-to-date results for 1999 versus year-to-date 1998 were as follows: Year-to-date RPMs increased four percent to approximately 173.8 million in 1999 from approximately 167.5 million in 1998. Year-to-date ASMs decreased two percent to approximately 252.4 million in 1999 from approximately 257.3 million in 1998. Year-to-date load factor increased approximately four points to 68.9% in 1999 from 65.1% in 1998.


Robert J. “Rocky” Spane, President and CEO of Vanguard said, “Although our year-over-year March load factor fell slightly, our passenger yields increased in excess of 20%. As we continue our efforts to maximize revenue, while maintaining load factors at operationally manageable levels, we anticipate that this trend will continue throughout the year.”


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 (effective April 15, 1999), 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)
MARCH 1999: 63,787
MARCH 1998: 64,587
% CHANGE: (1)%
YTD 1999: 173,786
YTD 1998: 167,511
% CHANGE: 4%

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ASMs (000)
MARCH 1999: 92,081
MARCH 1998: 87,431
% CHANGE: 5%
YTD 1999: 252,391
YTD 1998: 257,329
% CHANGE: (2)%

Load Factor
MARCH 1999: 69.3%
MARCH 1998: 73.9%
CHANGE: (5) pts.
YTD 1999: 68.9%
YTD 1998: 65.1%
CHANGE: 4 pts.

Passengers
MARCH 1999: 136,214
MARCH 1998: 135,702
% CHANGE: 0%
YTD 1999: 371,748
YTD 1998: 246,150
% CHANGE: 7%

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