Midwest Express Holdings Reports March Performance

Apr 11, 2001, 01:00 ET from Midwest Express Holdings, Inc.

    MILWAUKEE, April 11 /PRNewswire/ --
     Midwest Express Holdings, Inc. (NYSE:   MEH) today reported March
 performance data for Midwest Express Airlines and Skyway Airlines, The Midwest
 Express Connection.
     For the month, both Midwest Express and Skyway reported increases in
 traffic and capacity, and decreases in load factor.  Revenue yield increased
 at Midwest Express and decreased at Skyway, while revenue per available seat
 mile decreased at both airlines.  Fuel prices were slightly lower at both
 airlines compared with March 2000 -- the first time either airline has
 reported a lower per-gallon fuel price comparison since mid-1999.
 
     Midwest Express Airlines
     -- In March, Midwest Express Airlines' traffic (measured in revenue
        passenger miles) increased 4.8% on a 6.9% increase in capacity
       (measured in scheduled service available seat miles).  Year to date,
        traffic was up 7.9% on an 11.1% increase in capacity.  Capacity is
        expected to increase 11% in the second quarter, 12% in the third
        quarter and 6% in the fourth quarter -- resulting in a 10% increase for
        the full year.
     -- Load factor for the month was 65.2%, compared with 66.5% in March 2000;
        year to date, load factor was 57.9%, compared with 59.6% last year.
     -- Revenue yield was up 1.1% from March 2000 and 2.6% year to date -- due
        in large part to a fuel surcharge and fare increases implemented during
        2000.
     -- Revenue per available seat mile decreased 1.4% in March and 0.7% year
        to date.  Higher yields were not enough to offset the reduction in load
        factor.
     -- Fuel prices were 0.8% lower in March than a year ago, and 9.8% higher
        in the first three months of 2001 than 2000.
 
     Skyway Airlines
     -- In March, Skyway Airlines' traffic increased 29.4% on a 34.7% increase
        in capacity.  Year to date, traffic was up 29.8% on a 29.0% increase in
        capacity.  Capacity is expected to increase 35% in the second quarter,
        38% in the third quarter and 35% in the fourth quarter -- resulting in
        a 34% increase for the full year.
     -- Load factor for the month was 45.5%, compared with 47.4% in March 2000;
        year to date, load factor was 42.3%, compared with 42.0% last year.
     -- Revenue yield was down 8.4% from March 2000 and 6.6% year to date.
        While Skyway also benefited from a fuel surcharge and fare increases,
        yield was negatively impacted by significant increases in capacity and
        average passenger trip length.
     -- Revenue per available seat mile decreased 12.0% in March and 6.1% year
        to date, due to both the lower yield and lower load factor.
     -- Fuel prices were 2.5% lower in March than a year ago, and 5.3% higher
        in the first three months of 2001 than 2000.
 
     Midwest Express Holdings, Inc. is the holding company for Midwest Express
 Airlines, a premium-service airline headquartered in Milwaukee.  Catering
 primarily to business travelers since taking to the skies in 1984, the airline
 known as "the best care in the air" has earned its reputation providing
 passengers with personal attention, two-across wide leather seats, fine food
 served on china with complimentary wine or champagne, and baked-onboard
 chocolate chip cookies on luncheon flights -- all at competitive fares.  Conde
 Nast Traveler, Travel+Leisure and the Zagat Airline Survey recognize Midwest
 Express as the best airline in the United States.
     Midwest Express Airlines features primarily nonstop service to major
 destinations throughout the United States.  Astral Aviation, Inc. -- its
 wholly owned subsidiary -- operates Skyway Airlines, The Midwest Express
 Connection, which offers connections to Midwest Express as well as
 point-to-point service between select markets.  Together, the airlines fly to
 49 cities. More information is available at http://www.midwestexpress.com
 
     This document contains forward-looking statements that involve risks and
 uncertainties, including statements expressing the company's expectations or
 estimates.  The company's actual results may differ from those currently
 anticipated. Factors that may cause such differences include -- but are not
 limited to -- general economic conditions, competitive situations, the cost of
 jet fuel, and potential changes in government regulation of airlines or
 aircraft.
 
 
                           Midwest Express Holdings, Inc.
                                 Performance Report
 
 
                                                        Three Months ended
                                    March                    March 31
                                               %                         %
                           2001     2000    Change*   2001     2000   Change*
     Midwest Express
      Operations
 
     Origin & Destination
      Passengers         191,734  185,125    3.6    495,904  460,666   7.6
     Revenue Passenger
      Miles (000s)       188,180  179,624    4.8    483,051  447,794   7.9
     Scheduled Service
      Available Seat
      Miles (000s)       288,666  269,985    6.9    834,431  751,268  11.1
     Total Available
      Seat Miles
      (000s)             293,003  274,237    6.8    843,316  760,824  10.8
     Load Factor (%)        65.2%    66.5%  -1.3 pts.  57.9%    59.6% -1.7 pts.
     Revenue Yield        $0.186   $0.184    1.1     $0.190   $0.186   2.6
     Revenue per Schd.
      Svc. ASM (a)        $0.126   $0.128   -1.4     $0.115   $0.116  -0.7
     Average Passenger
      Trip Length (miles)  981.5    970.3    1.2      974.1    972.1   0.2
     Number of Flights     4,268    3,900    9.4     12,304   10,793  14.0
     Into-plane Fuel Cost
      per Gallon          $0.943   $0.951   -0.8     $0.989   $0.901   9.8
 
 
     Skyway Airlines
      Operations
     Origin & Destination
      Passengers          44,805   38,333   16.9    118,368   97,044  22.0
     Revenue Passenger
      Miles (000s)        12,105    9,358   29.4     30,844   23,761  29.8
     Scheduled Service
      Available Seat
      Miles (000s)        26,588   19,742   34.7     72,915   56,516  29.0
     Total Available Seat
      Miles (000s)        26,596   19,742   34.7     72,924   56,542  29.0
     Load Factor (%)        45.5%    47.4%  -1.9 pts.  42.3%    42.0%  0.3 pts.
     Revenue Yield        $0.502   $0.548   -8.4     $0.514   $0.550  -6.6
     Revenue per Schd.
      Svc. ASM (a)        $0.229   $0.261  -12.0     $0.218   $0.232  -6.1
     Average Passenger
      Trip Length (miles)  270.2    244.1   10.7      260.6    244.8   6.4
     Number of Flights     4,790    4,231   13.2     13,543   12,021  12.7
     Into-plane Fuel Cost
      per Gallon          $1.005   $1.031   -2.5     $1.055   $1.002   5.3
 
     *Numbers may not recalculate due to rounding.
 
     (a) Passenger, Cargo, and Other Transport Related Revenue divided by
         Scheduled Service ASMs.
 
     Note:
     All statistics exclude charter operations except the following:  total
     available seat miles and into-plane fuel cost.
 
 

SOURCE Midwest Express Holdings, Inc.
    MILWAUKEE, April 11 /PRNewswire/ --
     Midwest Express Holdings, Inc. (NYSE:   MEH) today reported March
 performance data for Midwest Express Airlines and Skyway Airlines, The Midwest
 Express Connection.
     For the month, both Midwest Express and Skyway reported increases in
 traffic and capacity, and decreases in load factor.  Revenue yield increased
 at Midwest Express and decreased at Skyway, while revenue per available seat
 mile decreased at both airlines.  Fuel prices were slightly lower at both
 airlines compared with March 2000 -- the first time either airline has
 reported a lower per-gallon fuel price comparison since mid-1999.
 
     Midwest Express Airlines
     -- In March, Midwest Express Airlines' traffic (measured in revenue
        passenger miles) increased 4.8% on a 6.9% increase in capacity
       (measured in scheduled service available seat miles).  Year to date,
        traffic was up 7.9% on an 11.1% increase in capacity.  Capacity is
        expected to increase 11% in the second quarter, 12% in the third
        quarter and 6% in the fourth quarter -- resulting in a 10% increase for
        the full year.
     -- Load factor for the month was 65.2%, compared with 66.5% in March 2000;
        year to date, load factor was 57.9%, compared with 59.6% last year.
     -- Revenue yield was up 1.1% from March 2000 and 2.6% year to date -- due
        in large part to a fuel surcharge and fare increases implemented during
        2000.
     -- Revenue per available seat mile decreased 1.4% in March and 0.7% year
        to date.  Higher yields were not enough to offset the reduction in load
        factor.
     -- Fuel prices were 0.8% lower in March than a year ago, and 9.8% higher
        in the first three months of 2001 than 2000.
 
     Skyway Airlines
     -- In March, Skyway Airlines' traffic increased 29.4% on a 34.7% increase
        in capacity.  Year to date, traffic was up 29.8% on a 29.0% increase in
        capacity.  Capacity is expected to increase 35% in the second quarter,
        38% in the third quarter and 35% in the fourth quarter -- resulting in
        a 34% increase for the full year.
     -- Load factor for the month was 45.5%, compared with 47.4% in March 2000;
        year to date, load factor was 42.3%, compared with 42.0% last year.
     -- Revenue yield was down 8.4% from March 2000 and 6.6% year to date.
        While Skyway also benefited from a fuel surcharge and fare increases,
        yield was negatively impacted by significant increases in capacity and
        average passenger trip length.
     -- Revenue per available seat mile decreased 12.0% in March and 6.1% year
        to date, due to both the lower yield and lower load factor.
     -- Fuel prices were 2.5% lower in March than a year ago, and 5.3% higher
        in the first three months of 2001 than 2000.
 
     Midwest Express Holdings, Inc. is the holding company for Midwest Express
 Airlines, a premium-service airline headquartered in Milwaukee.  Catering
 primarily to business travelers since taking to the skies in 1984, the airline
 known as "the best care in the air" has earned its reputation providing
 passengers with personal attention, two-across wide leather seats, fine food
 served on china with complimentary wine or champagne, and baked-onboard
 chocolate chip cookies on luncheon flights -- all at competitive fares.  Conde
 Nast Traveler, Travel+Leisure and the Zagat Airline Survey recognize Midwest
 Express as the best airline in the United States.
     Midwest Express Airlines features primarily nonstop service to major
 destinations throughout the United States.  Astral Aviation, Inc. -- its
 wholly owned subsidiary -- operates Skyway Airlines, The Midwest Express
 Connection, which offers connections to Midwest Express as well as
 point-to-point service between select markets.  Together, the airlines fly to
 49 cities. More information is available at http://www.midwestexpress.com
 
     This document contains forward-looking statements that involve risks and
 uncertainties, including statements expressing the company's expectations or
 estimates.  The company's actual results may differ from those currently
 anticipated. Factors that may cause such differences include -- but are not
 limited to -- general economic conditions, competitive situations, the cost of
 jet fuel, and potential changes in government regulation of airlines or
 aircraft.
 
 
                           Midwest Express Holdings, Inc.
                                 Performance Report
 
 
                                                        Three Months ended
                                    March                    March 31
                                               %                         %
                           2001     2000    Change*   2001     2000   Change*
     Midwest Express
      Operations
 
     Origin & Destination
      Passengers         191,734  185,125    3.6    495,904  460,666   7.6
     Revenue Passenger
      Miles (000s)       188,180  179,624    4.8    483,051  447,794   7.9
     Scheduled Service
      Available Seat
      Miles (000s)       288,666  269,985    6.9    834,431  751,268  11.1
     Total Available
      Seat Miles
      (000s)             293,003  274,237    6.8    843,316  760,824  10.8
     Load Factor (%)        65.2%    66.5%  -1.3 pts.  57.9%    59.6% -1.7 pts.
     Revenue Yield        $0.186   $0.184    1.1     $0.190   $0.186   2.6
     Revenue per Schd.
      Svc. ASM (a)        $0.126   $0.128   -1.4     $0.115   $0.116  -0.7
     Average Passenger
      Trip Length (miles)  981.5    970.3    1.2      974.1    972.1   0.2
     Number of Flights     4,268    3,900    9.4     12,304   10,793  14.0
     Into-plane Fuel Cost
      per Gallon          $0.943   $0.951   -0.8     $0.989   $0.901   9.8
 
 
     Skyway Airlines
      Operations
     Origin & Destination
      Passengers          44,805   38,333   16.9    118,368   97,044  22.0
     Revenue Passenger
      Miles (000s)        12,105    9,358   29.4     30,844   23,761  29.8
     Scheduled Service
      Available Seat
      Miles (000s)        26,588   19,742   34.7     72,915   56,516  29.0
     Total Available Seat
      Miles (000s)        26,596   19,742   34.7     72,924   56,542  29.0
     Load Factor (%)        45.5%    47.4%  -1.9 pts.  42.3%    42.0%  0.3 pts.
     Revenue Yield        $0.502   $0.548   -8.4     $0.514   $0.550  -6.6
     Revenue per Schd.
      Svc. ASM (a)        $0.229   $0.261  -12.0     $0.218   $0.232  -6.1
     Average Passenger
      Trip Length (miles)  270.2    244.1   10.7      260.6    244.8   6.4
     Number of Flights     4,790    4,231   13.2     13,543   12,021  12.7
     Into-plane Fuel Cost
      per Gallon          $1.005   $1.031   -2.5     $1.055   $1.002   5.3
 
     *Numbers may not recalculate due to rounding.
 
     (a) Passenger, Cargo, and Other Transport Related Revenue divided by
         Scheduled Service ASMs.
 
     Note:
     All statistics exclude charter operations except the following:  total
     available seat miles and into-plane fuel cost.
 
 SOURCE  Midwest Express Holdings, Inc.