Kansas City, MO—Vanguard Airlines, Inc. (NasdaqSC: VNGD) reported that for the month of March 2000 traffic increased 12% to approximately 71.6 million revenue passenger miles (RPMs) in March 2000 from approximately 64.0 million in March 1999. Capacity increased 42% to approximately 131.5 million available seat miles (ASMs) in March 2000 versus 92.5 million in March 1999. Load factor decreased approximately 15 points to 54.5% in March 2000 from approximately 69.2% in March 1999.

Year-to-date RPMs increased 19% to approximately 206.5 million in 2000 from approximately 173.8 million in 1999. Year-to-date ASMs increased 37% to approximately 345.9 million in 2000 from approximately 252.4 million in 1999. Year-to-date load factor decreased approximately 9 points to 59.7% in 2000 from 68.9% 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 900 full-time equivalent employees and currently operates a fleet of 14 Boeing 737s. For more information on Vanguard or to book a reservation on-line, please visit the Company’s Web site at www.flyvanguard.com.

RPMs (000)
March 2000: 71,582
March 1999: 64,008
% Change: 12%
YTD 2000: 206,516
YTD 1999: 173,786
% Change: 19%

ASMs (000)
March 2000: 131,453
March 1999: 92,461
% Change: 42%
YTD 2000: 345,863
YTD 1999: 252,391
% Change: 37%

Load Factor
March 2000: 54.5%
March 1999: 69.2%
Change: (15) Pts.
YTD 2000: 59.7%
YTD 1999: 68.9%
Change: (9) Pts.

Passengers
March 2000: 152,589
March 1999: 136,746
% Change: 12%
YTD 2000: 452,378
YTD 1999: 371,748
% Change: 22%

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