Kansas City, MO—Vanguard Airlines, Inc. (NasdaqSC: VNGD) reported that for the month of May 2000 traffic increased 16% to approximately 84.5 million revenue passenger miles (RPMs) in May 2000 from approximately 73.1 million in May 1999. Capacity increased 36% to approximately 143.3 million available seat miles (ASMs) in May 2000 versus 105.0 million in May 1999. Load factor decreased approximately 11 points to 59.0% in May 2000 from approximately 69.7% in May 1999.

Year-to-date RPMs increased 19% to approximately 375.3 million in 2000 from approximately 315.7 million in 1999. Year-to-date ASMs increased 38% to approximately 625.9 million in 2000 from approximately 454.4 million in 1999. Year-to-date load factor decreased approximately 10 points to 60.0% in 2000 from 69.5% in 1999.

Vanguard, which began service in December 1994 and is headquartered in Kansas City, is a low-fare, 100% ticketless passenger airline providing convenient and frequent, scheduled jet services to the following nine cities: Atlanta, Buffalo/Niagara Falls, Chicago-Midway, Dallas/Ft. Worth, Denver, Kansas City, Minneapolis/St. Paul, Myrtle Beach and Pittsburgh. The Company employs approximately 950 full-time equivalent Employees and currently operates a fleet of 15 Boeing 737s. For more information on Vanguard or to book a reservation online, please visit the Company’s Web site at www.FlyVanguard.com.

RPMs (000)
May 2000: 84,514
May 1999: 73,148
% Change: 16%
YTD 2000: 375,253
YTD 1999: 315,739
% Change: 19%

ASMs (000)
May 2000: 143,288
May 1999: 104,995
% Change: 36%
YTD 2000: 625,887
YTD 1999: 454,360
% Change: 38%

Load Factor
May 2000: 59.0%
May 1999: 69.7%
Change: (11) Pts.
YTD 2000: 60.0%
YTD 1999: 69.5%
Change: (10) Pts.

Passengers
May 2000: 179,197
May 1999: 167,762
% Change: 7%
YTD 2000: 810,216
YTD 1999: 694,258
% Change: 17%

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