Alpine Air in Negotiations to Acquire Leased Aircraft Fleet.Business Editors PROVO, Utah--(BUSINESS WIRE)--April 2, 2002 Alpine Air Express Alpine Air Express is an American airline based in Provo, Utah, USA. It operates scheduled air cargo services on over 15 routes throughout Utah, North Dakota, South Dakota, Montana, Washington and Hawaii. Its main base is Provo Municipal Airport. , Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ALPE) a leading provider of regional air cargo air cargo: see aviation. transport and logistics services, today announced that it is in preliminary negotiations to acquire 23 aircraft that it currently leases. Alpine currently operates a fleet of 23 leased aircraft, including 17 Beech 99 and six Beechcraft 1900/C cargo aircraft A cargo aircraft is an airplane designed and used for the carriage of goods, rather than passengers. This role demands a number of features that makes a cargo aircraft instantly identifiable; a "fat" looking fuselage, a high-wing to allow the cargo area to sit near the ground, a . Eugene Mallette, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alpine Air Express, commented: "This purchase we are contemplating would generate significant cost savings and allow us to increase earnings for the current fiscal year. If we are successful in completing this purchase, we believe we will be able to achieve our previously announced goal of growing fiscal 2002 net earnings by about 40% over fiscal 2001, despite the softness in air cargo volume we experienced in the first quarter. While the current operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. remains challenging, we are encouraged by the increased volume trends we have experienced recently and continue to be confident and enthusiastic about our prospects for growing our business." Founded in 1975, Alpine Air Express operates 24 aircraft to provide competitively priced scheduled air cargo flights throughout the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . The Company has an established client base that includes various contract operations for the United States Postal Service, freight forwarders, and other cargo and logistics firms. Alpine provides superior "on time" performance and reliability, together with the flexibility to adapt quickly to the growing frequency and capacity requirements of its clients. This press release may contain forward-looking statements including the Company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful completion of the proposed leasing transaction, changes in anticipated earnings of the Company and other factors detailed in the Company's filings with the SEC, including its most recent Form 10-Q Form 10-Q See 10-Q. and Form 10K. In addition, the factors underlying Company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date the are given. The Company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public. |
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