Vanguard Airlines Acquires Two Additional Aircraft

Kansas City, MO—Vanguard Airlines, Inc. (NasdaqSC: VNGD) announced today that it has taken acquisition of two of six Boeing 737-200 Advanced aircraft from US Airways Leasing & Sales. Under the terms of the Letter of Intent (LOI) signed November 9, 1999, the Company will have purchase options on each of the six aircraft.

Robert J. “Rocky” Spane, President and CEO for Vanguard Airlines, said, “We are excited about acquiring these first two in a series of aircraft, which will significantly reduce the average age of our fleet and improve its commonality. This acquisition supports our targeted focus on frequency in business markets staged for growth.”

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, 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 13 Boeing 737-200’s. For more information on Vanguard, please visit the Company’s web site at