Kansas City, MO—Vanguard Airlines, Inc. (OTC Bulletin Board: VNGD) today announced it has taken delivery of its sixth MD-80-series aircraft. The Boeing MD-80 jet, a modern, fuel-efficient, new-generation aircraft, is configured to seat 132 passengers, including 12 SkyBox? Business Class seats. Vanguard is scheduled to take delivery of its seventh MD-80 aircraft on Monday, February 4. Both aircraft are leased from a special purpose subsidiary managed by debis AirFinance, a global airline leasing company headquartered in Amsterdam.

“We appreciate the confidence debis AirFinance has shown in our business plan and are very pleased to continue our transition to an MD-80 fleet,” said Scott Dickson, Vanguard’s Chief Executive Officer and President. “The reliability and comfort of these aircraft has been well-received by our passengers. We expect to add several more MD-80 aircraft to the fleet in 2002, allowing us to increase service on existing routes, bring our low fares to more cities and offer increased employment opportunities to Kansas City.”

“We are pleased to participate in Vanguard’s turnaround and look forward to a long and mutually-beneficial relationship,” said Reinhard Orthmann, Executive Vice President Sales and Marketing of debis AirFinance.

The aircraft will operate in conjunction with the airline’s January 31 schedule, which adds MD-80 service to Atlanta and Los Angeles, and transitions all the Company’s Denver flights to MD-80-series aircraft featuring SkyBox ? Business Class.

Vanguard Airlines, Kansas City’s Hometown Airline, provides convenient all-jet service to 16 cities nationwide: Atlanta, Austin, Buffalo/Niagara Falls, Chicago-Midway, Colorado Springs, Dallas/Ft. Worth, Denver, Fort Lauderdale, Kansas City, Las Vegas, Los Angeles, Myrtle Beach (March 28), New Orleans, New York-LaGuardia, Pittsburgh and San Francisco. The airline offers low fares with no advance-purchase requirements, advanced seat assignment and extra legroom on all flights with a fleet of seven Boeing 737s and six Boeing MD-80-series aircraft, which feature SkyBox? Business Class service. For more information or to make reservations online, visit Vanguard’s Web site at www.flyvanguard.com.

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