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CCAIR REPORTS QUARTERLY PROFIT

 CCAIR REPORTS QUARTERLY PROFIT
 CHARLOTTE, N.C., April 29 /PRNewswire/ -- CCAIR, Inc.


(NASDAQ: CCAR), an independent company providing service as USAir Express in the southeast United States, today announced a net profit of $634,880 or $.10 per share for its third fiscal quarter ended March 31.
 For the same period in 1991 the company reported a net loss of $884,010 or ($.15) per share. Operating revenue increased $1,100,321 or 9.1 percent while operating expenses increased only $55,663 or .4 percent compared to the same period in 1991.
 For the nine months ended March 31, the company announced a net profit of approximately $6,705,000 or $1.05 per share compared to a net loss of $4,444,000 or ($.76) per share for the comparable period of 1991. Over the first three quarters of fiscal 1992 (July-March) an extraordinary gain of $6,098,358 was realized resulting from the compromise of liabilities through the Chapter 11 reorganization of the company. CCAIR emerged from bankruptcy in September 1991 and received the final decree from the Bankruptcy Court this past quarter.
 The carrier further downsized its operation in February 1991 while operating under Chapter 11 of the United States Bankruptcy Code and eliminated excess aircraft, leaseholds and employees. President and Chief Executive Officer Kenneth Gann stated, "This is our fourth consecutive profitable quarter and I am excited about the future as we introduce four de Havilland Dash-8 aircraft into the system on June 1, 1992."
 The following table sets forth selected operating comparisons for the three- and nine-month period ended March 31, 1992.
 CCAIR, INC.
 3rd qtr. (Jan.-March) (000) 1992 1991 Variance
 Financial (Unaudited):
 Operating revenue $13,246 $12,146 9.1 pct.
 Operating expenses $12,597 $12,541 .4 pct.
 Operating P&L $ 649 $ (395) $1,044
 Net P&L $ 635 $ (884) $1,519
 Weighted average shares 6,597 5,842 ---
 Per share $.10 $(.15) $.25
 Performance:
 Passengers enplaned 166 158 5.1 pct.
 Revenue passenger miles 23,032 21,969 4.8 pct.
 Available seat miles 50,253 50,975 -1.4 pct.
 Load factor 45.8 pct. 43.1 pct. 6.3 pct.
 Average passenger miles 138.7 138.9 -.1 pct.
 9 mos. (July-March) (000) 1992 1991 Variance
 Financial (Unaudited):
 Operating revenue $39,372 $42,217 -6.7 pct.
 Operating expenses $38,215 $45,485 -16.0 pct.
 Operating P&L $ 1,157 $(3,268) $4,425
 Net P&L $ 6,705 $(4,444)$11,149
 Weighted average shares 6,361 5,782 ---
 Per share $1.05 $(.76) $1.81
 Performance:
 Passengers enplaned 577 600 -3.8 pct.
 Revenue passenger miles 78,490 85,403 -8.1 pct.
 Available seat miles 151,544 193,132 -21.5 pct.
 Load factor 51.8 pct. 44.2 pct. 17.2 pct.
 Average passenger miles 136.0 142.4 -4.5 pct.
 -0- 4/29/92
 /CONTACT: Kenneth W. Gann of CCAIR, 704-359-8990/
 (CCAR) CO: CCAIR, Inc. ST: North Carolina IN: AIR SU: ERN


BR-BN -- CH007 -- 4236 04/29/92 09:55 EDT
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Date:Apr 29, 1992
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