Kansas City, MO—Vanguard Airlines, Inc. (OTC: VNGD) reported that for the month of February 1999, load factor increased approximately nine points to 70.6% from 61.5% in February 1998. Traffic was approximately 56.4 million revenue passenger miles (RPMs) in February 1999 versus 49.4 million in February 1998. Capacity was approximately 80.0 million available seat miles (ASMs) in February 1999 versus 80.3 million in February 1998.

Year-to-date results for 1999 versus year-to-date 1998 were as follows: Year-to-date RPMs increased seven percent to approximately 109.8 million in 1999 from approximately 102.9 million in 1998. Year-to-date ASMs decreased six percent to approximately 159.9 million in 1999 from approximately 169.9 million in 1998. Year-to-date load factor increased approximately eight points to 68.6% in 1999 from 60.6% 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 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 ten Boeing 737-200`s. One additional Boeing 737-200 is scheduled to arrive in March 1999 and the Company has signed letters of intent for three additional aircraft, with anticipated delivery dates in the second half of 1999.

RPMs (000)
FEB. 1999: 56,448
FEB. 1998: 49,410
% CHANGE: 14%
YTD 1999: 109,778
YTD 1998: 102,924
% CHANGE: 7%

ASMs (000)
FEB. 1999: 79,969
FEB. 1998: 80,297
% CHANGE: 0%
YTD 1999: 159,929
YTD 1998: 169,899
% CHANGE: (6)%

Load Factor
FEB. 1999: 70.6%
FEB. 1998: 61.5%
CHANGE: 9 pts.
YTD 1999: 68.6%
YTD 1998: 60.6%
CHANGE: 8 pts.

Passengers
FEB. 1999: 121,679
FEB. 1998: 103,450
% CHANGE: 18%
YTD 1999: 235,002
YTD 1998: 210,448
% CHANGE: 12%
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