Midwest Express Reports November Performance

10th Dec 2003

Midwest Express Holdings, Inc. today reported November performance data
for Midwest Airlines and Midwest Connect. Compared with November 2002,
Midwest Airlines reported increases in traffic, capacity and load factor
and a decrease in yield. Midwest Connect reported decreases in traffic and
capacity, and increases in load factor and yield.

Midwest Airlines—In November, Midwest Airlines` traffic (measured in
scheduled service revenue passenger miles) increased 12.2% on a 1.8%
increase in capacity (measured in scheduled service available seat miles).
Year to date, traffic was down 0.8% on an 8.1% decrease in capacity.
Midwest Airlines expects to increase capacity 1-2% in the fourth quarter
compared with fourth quarter 2002.—Load factor for the month was 67.2%,
compared with 61.0% in November 2002; year to date, load factor was 66.2%,
compared with 61.3% last year.—Revenue yield declined 14.2% from
November 2002 and 14.9% year to date.—Revenue per scheduled service
available seat mile decreased 5.5% in November—higher load factor was
not enough to offset lower revenue yield, and decreased 7.7% year to date.
—Fuel prices were 7.7% higher in November than a year ago, and 22.6%
higher in the first 11 months of 2003 than 2002. Midwest Connect—In
November, Midwest Connect`s traffic decreased 14.8% on a 19.5% decrease in
capacity. Year to date, traffic was up 8.2% on a 2.0% decrease in
capacity. Midwest Connect expects to decrease capacity 16-18% in the
fourth quarter compared with fourth quarter 2002.—Load factor for the
month was 56.4%, compared with 53.2% in November last year; year to date,
load factor was 53.2%, compared with 48.2% last year.—Revenue yield
increased 12.0% from November 2002 and decreased 13.4% year to date.—
Revenue per scheduled service available seat mile increased 22.8% in
November—the result of higher load factor and higher revenue yield, and
decreased 2.2% year to date.—Fuel prices were 9.6% higher in November
than a year ago, and 18.5% higher in the first 11 months of 2003 than 2002.

Midwest Airlines features nonstop jet service to major destinations
throughout the United States. Skyway Airlines, Inc.—its wholly owned
subsidiary—operates Midwest Connect, which offers connections to
Midwest Airlines as well as point-to-point service between select markets
on regional jet and turboprop aircraft. Together, the airlines offer
service to 50 cities. More information is available at
http://www.midwestairlines.com/ .

This document contains forward-looking statements that may state the
company`s or management`s intentions, hopes, beliefs, expectations or
predictions for the future. Words such as “expect,” “anticipate,”
“believe,” “estimate,” “goal,” “objective” or similar words are intended
to identify forward-looking statements. It is important to note that the
company`s actual results could differ materially from those projected
results due to factors that include but are not limited to uncertainties
related to general economic factors, industry conditions, scheduling
developments, government regulations, labor relations, aircraft
maintenance and refurbishment schedules, potential delays related to
acquired aircraft, fuel costs, competitive developments, interest rates,
terrorist attacks or fear of terrorist attacks.
Midwest Express Holdings editorial, based on news release distributed by PR Newswire




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