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RENO AIR ANNOUNCES COMPLETION OF WARRANT REDEMPTION

 RENO, Nev., Sept. 29 /PRNewswire/ -- Reno Air Inc. ((NASDAQ: RENO) (PSE: RNO)) Nevada-based Reno Air today announced that approximately 997,400 of the airline's redeemable public warrants were exercised on or before Sept. 20, 1993, and approximately 8,850 warrants were redeemed by the company. The redemption date for the company's public warrants, which were exercisable at a price of $8.50 per share and redeemable at 10 cents per warrant, was Sept. 21, 1993.
 The right of warrantholders to exercise their redeemable public warrants expired at 5 p.m. (EDT) on Sept. 20, 1993, after which time the company's warrants ceased trading on NASDAQ and the Pacific Stock Exchange. Reno Air's common stock continues to be quoted on both NASDAQ and the PSE.
 "Proceeds of the redemption of these warrants, which amounted to approximately $8.48 million, will be used for the expansion of airline operations, the leasing of additional aircraft and general working capital purposes," said Rod Leith, chief financial officer of Reno Air.
 Reno Air recently announced it is scheduled to begin non-stop service between San Francisco and Burbank, Calif., on Oct. 15. The carrier currently serves Seattle, Portland, Los Angeles, San Jose, San Francisco, San Diego and Ontario, as well as its hometown of Reno/Tahoe. Reno Air currently leases 14 McDonnell-Douglas MD-80 series jets and plans to add three more aircraft this fall.
 -0- 9/29/93
 /CONTACT: Sue Putnam, manager of public relations of Reno Air, 702-686-3833/
 (RENO RNO)


CO: Reno Air Inc. ST: Nevada IN: AIR SU:

PK-LH -- SF005 -- 6639 09/29/93 08:00 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
Words:263
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