Atlantic Coast Airlines Posts 23.3% Increase in September Traffic: Airline Completes Refinancing of 15 Jetstream 41 Aircraft.DULLES, Va.--(BUSINESS WIRE)--Oct. 1, 1997--Atlantic Coast Airlines (Nasdaq/National Market: ACAI), which operates in the Eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. as United Express, Wednesday announced preliminary passenger traffic results for the month of September 1997. The company generated 38,475,000 revenue passenger miles Revenue passenger miles (RPMs) is a measure of a passenger traffic for an airline flight, bus, or train calculated by multiplying the total number of revenue-paying passengers aboard the vehicle by the distance traveled measured in miles. (RPMs), a 23.3 percent increase over the same month last year, while available seat miles Available seat miles (ASM) is a measure of an airline flight's passenger carrying capacity. It is equal to the number of seats available multiplied by the number of miles flown. This measures an airlines capacity for transporting passengers. (ASMs) increased to 73,116,000 an increase of 11.2 percent resulting in a 5.2 point load factor increase. The carrier's load factor in September was 52.6 percent vs. 47.4 percent in 1996. The company carried 154,863 passengers, a 22 percent increase over September 1996. For the nine months ended Sept. 30, 1997, compared to the same nine-month period in 1996, RPMs grew to 298,331,000 an increase of 11.6 percent year over year, while ASMs were 617,788,000 an 8 percent increase resulting in a 1.6 point load factor increase. The company carried 1,200,591 passengers for the nine months ended Sept. 30, 1997, compared to 1,093,226 in 1996, an increase of 9.8 percent on a year-over-year basis. The company also reported that it has successfully refinanced 15 Jetstream 41 (J-41) turboprop turboprop: see turbine. turboprop Hybrid engine that provides jet thrust and also drives a propeller. It is similar to the turbojet except that an added turbine, behind the combustion chamber, works through a shaft and speed-reducing gears to turn a aircraft during this year's third quarter. All of the aircraft involved were already in the company's fleet, including the four aircraft delivered in 1997. Four of the refinanced aircraft were purchased by the company and the remainder were placed on new long-term operating leases Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. . Eight of these refinanced aircraft were funded with a portion of the proceeds from the placement of enhanced equipment pass through trust certificates announced on Sept. 25. "One of our stated corporate objectives this year was to refinance a sizable part of our J-41 fleet," remarked Paul Tate, senior vice president and chief financial officer. "By the end of the third quarter, 15 of the possible 19 J-41 aircraft eligible for refinancing have been completed at favorable rates. This accomplishment will significantly reduce our J-41 ownership costs for many years to come," he added. Atlantic Coast Airlines Atlantic Coast Airlines (IATA: DH, ICAO: BLR, and Callsign: Blue Ridge) was an airline based in the United States owned by Atlantic Coast Holdings, Inc.. It operated as United Express for United Airlines and Delta Connection for Delta Air Lines. operates its hub at Washington-Dulles International Airport, where it offers nearly 200 departures every business day as United Express. Systemwide, ACA ACA - Application Control Architecture serves 37 destinations in 17 states with more than 465 non-stop flights A non-stop flight in the aviation industry refers to any flight which does not involve any intermediate stops. Many laymen mistakenly assume that a "direct flight" is similar to a "non-stop flight". . Its route system spans the East Coast from Maine to South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and as far west as Michigan. ACA operates a fleet of 60 British Aerospace British Aerospace (BAe) was a UK aircraft and defence systems manufacturer, now part of BAE Systems. History The company was formed as a statutory corporation on April 29, 1977 as a result the Aircraft and Shipbuilding Industries Act. Jetstream aircraft, including 31 J-41s, which accommodate 29 passengers and 29 Jetstream 32s which accommodate 19 passengers. In January, ACA announced the acquisition of 12 50-seat jet aircraft from Bombardier's Canadair unit, with an option for 36 additional jets. Jet service is planned to begin in late 1997. The average age of ACA's fleet is approximately five years. -0-
September 1997 vs. September 1996
1997 1996 %Change
------ ------ -------
Revenue Passenger
Miles (000) 38,475 31,197 23.3%
Available Seat Miles (000) 73,116 65,777 11.2%
Load Factor 52.6% 47.4% 5.2 Pts.
Passengers 154,863 126,904 22%
Nine months ended Sept. 30,
1997 1996 %Change
------ ------ -------
Revenue Passenger
Miles (000) 298,331 267,326 11.6%
Available Seat Miles (000) 617,788 571,896 8%
Load Factor 48.3% 46.7% 1.6 Pts.
Passengers 1,200,591 1,093,226 9.8%
-0- Note: To retrieve the latest ACA/United Express news releases, please visit ACA's home page on the World Wide Web at http://www.AtlanticCoast.com . CONTACT: Atlantic Coast Airlines Jennifer Heronema, public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most manager, 703/925-6019 |
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