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CCAIR REPORTS QUARTERLY RESULTS

                   CCAIR REPORTS QUARTERLY RESULTS
    CHARLOTTE, N.C., Nov. 14 /PRNewswire/ -- CCAIR, Inc. (NASDAQ: CCAR),


operating as USAir Express reported net income for the quarter ended Sept. 30, 1991 of $5,859,118 or $.95 per share as compared to a net loss of $1,286,442 or $(.22) per share in the quarter ending Sept. 30, 1990.
    The primary reason for the amount of net income was an extraordinary gain of $5,831,268 resulting from the compromise of liabilities through the Chapter 11 reorganization of the Company.
    The Company filed for bankruptcy protection in July 1990.  A Plan of Reorganization was approved by the Court in July, 1991, and the Company emerged from bankruptcy in September 1991.
    If the effects of the Chapter 11 proceeding are disregarded for the three-month period ending Sept. 30, 1991, the Company had a net income of $104,511 or $.02 per share.  This is compared to a net loss of $1,178,191 or $(.20) per share in the same period in the prior year.
    The following table sets forth selected operating comparisons for the three-month period ending Sept. 30, 1991 and 1990:
                                   Quarter ended Sept. 30,   Percent
                                      1991        1990       Variance
    Operating revenue             $13,046,538 $15,935,582     - 18.1
    Operating expense              12,863,271  17,055,454     - 24.6
    Revenue passengers carried        205,399     242,494     - 15.3
    Revenue passenger miles        27,735,193  34,642,367     - 19.9
    Available seat miles           50,704,976  77,097,259     - 34.2
    Passenger load factor           54.7 pct.   44.9 pct.       21.8
    Yield per revenue
     passenger mile                45.9 cents  44.9 cents        2.2
    CCAIR president and chief executive officer, Kenneth W. Gann, said, "The Company continued to make marketing and operational changes during the three-month period ending Sept. 30, 1991, and these changes contributed to an increase in yield and load factor."  The net result was an increase of 24.6 percent for revenue per available seat mile.
    CCAIR provides feeder service for USAir's largest hub in Charlotte, North Carolina and service to twenty-one (21) cities in seven (7) states.
    -0-                    11/14/91
    /CONTACT:  Wesley C. Moore, CCAIR, Inc., 704-359-8990/
    (CCAR) CO:  CCAIR, Inc. ST:  North Carolina IN:  AIR SU:  ERN DF -- CH005 -- 4373 11/14/91 11:13 EST
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Publication:PR Newswire
Date:Nov 14, 1991
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