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STATESWEST REPORTS SECOND QUARTER RESULTS

 STATESWEST REPORTS SECOND QUARTER RESULTS
 PHOENIX, April 15 /PRNewswire/ -- StatesWest Airlines Inc.


(NASDAQ: SWAL, SWALP) reported its second quarter revenue of $5,569,476, up 28 percent, compared to 1991 second quarter revenue of $4,351,803, along with a second quarter net loss of $670,162, compared to last year's net loss of $2,151,323 and a second period net loss of $.11 per share vs. a corresponding quarter loss of $.51 per share.
 Rudy R. Miller, chairman and president, stated, "StatesWest's second quarter operating results were right on target with our expectations and March was an extremely strong month. Initial April results are favorable and May passenger bookings are trending at a record pace.
 "The airline was able to add approximately $1.7 million in new capital to the company with the conversion of a subordinated note to equity and the exercise of certain 1991 B Warrants in March," Miller continued. "The company anticipates additional warrant conversions in April."
 Miller concluded, "StatesWest is continuing to implement significant reductions in operating expenses in the third quarter and is projecting continued increases in revenue. Our management team believes that we are on target to become a profitable airline by the third quarter of fiscal 1992."
 StatesWest, operating under a code-share agreement with both USAir and Northwest Airlines, has one of the most fuel efficient fleets of prop-jet aircraft in the United States. The airline operates more than 4,000 monthly departures serving passengers in 14 cities in California, Arizona and Nevada.
 The following is the financial and traffic results for the quarter and six months ended March 31, 1992 and 1991.
 STATESWEST AIRLINES
 Financial Results
 Quarter ended Six months ended
 (Unaudited) (Unaudited)
 March 31, March 31,
 1992 1991 1992 1991
 Operating revenues $5,569,476 $4,351,803 $12,149,878 $8,404,325
 Operating expenses 6,313,679 6,034,591 13,415,571 11,259,344
 Operating loss (744,203) (1,682,788) (1,265,693)(2,855,019)
 Net loss (670,162) (2,151,323) (1,666,735)(3,772,900)
 Loss per common share (.11) (.51) (.28) (.88)
 Average shares
 outstanding 6,344,922 4,351,278 6,311,277 4,351,181
 Traffic Results
 Quarter ended
 (Unaudited) Percent
 March 31, change
 1992 1991
 Passenger
 enplanements 74,394 56,439 +31.8
 Available seat
 miles (ASM) 30,582,961 30,334,442 +0.8
 Revenue
 passenger
 miles (RPM) 11,338,708 10,597,140 +7.0
 Load factor
 (percent) 37.1 34.9 +2.2 pts
 RPM yield (cents) 48.8 40.6 +20.2
 Six months ended
 (Unaudited) Percent
 March 31, change
 1992 1991
 Passenger
 enplanements 163,775 111,742 +46.6
 Available seat
 miles (ASM) 64,094,965 52,163,851 +22.9
 Revenue
 passenger
 miles (RPM) 26,068,706 18,911,872 +37.8
 Load factor
 (percent) 40.7 36.5 +4.2 pts
 RPM yield (cents) 46.2 44.1 +4.8
 -0- 4/15/92
 /CONTACT: Rudy R. Miller, chairman and president, or Mary A. Nance of StatesWest Airlines, 602-225-0504/
 (SWAL SWALP) CO: StatesWest Airlines Inc. ST: Arizona IN: AIR SU: ERN ::END JL -- NYON1 -- 8493 04/15/92 08:33 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
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