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VALUJET AIRLINES COMPLETES $14 MILLION PRIVATE PLACEMENT

 ATLANTA, Dec. 9 /PRNewswire/ -- ValuJet Airlines, a new Atlanta- based, low-fare, short-haul passenger carrier, has completed a private sale of equity to institutions and individuals for nearly $14 million.
 These funds combined with the company's existing equity base will be used primarily for working capital and also for aircraft purchases.
 "Along with our low cost structure, this increased equity base will provide us the flexibility to adjust our plans as required by market forces," said Robert Priddy, chairman and chief executive officer for ValuJet. "These funds will allow us to expand prudently and continue to develop innovative and non-conventional approaches necessary to providing inexpensive air travel in the Southeast."
 Paradise Valley Securities, Inc., of Phoenix, acted as the placement agent for the private placement of stock for ValuJet Airlines, Inc. Paradise Valley Securities also served as the underwriter and placement agent for Reno Air, whose initial public stock offering raised $6 million in May 1992.
 "We were impressed by the management team and the business plan for ValuJet," said Anthony Silverman, president of Paradise Valley Securities. "We are encouraged by the successful commencement of flight operations and look forward to a long and rewarding relationship with ValuJet."
 ValuJet offers everyday "ValuFares" starting as low as $39 from Atlanta to major cities in Florida including Fort Lauderdale, Jacksonville, Orlando, and Tampa, as well as other southeastern cities such as Louisville, Ky., and Memphis, Tenn. Fares to New Orleans begin at $49. ValuJet's fares represent discounts of 50 percent to 70 percent from fare levels previously available to customers prior to the company's market entry.
 On Oct. 26, 1993, ValuJet Airlines began flying to Orlando, Tampa and Jacksonville from Hartsfield Atlanta International Airport. Service expanded to include Fort Lauderdale and Louisville on Nov. 4, and routes to New Orleans and Memphis begin today. Service to Washington (Dulles International Airport), Nashville, Tenn., and West Palm Beach, Fla., is scheduled to begin on Jan. 12, 1994, with service to Fort Myers, Fla., beginning on Feb. 10, 1994.
 For more information and flight reservations, call 800-VALUJET (800-825-8538), or a travel agent.
 -0- 12/9/93
 /CONTACT: Katie deNourie, manager, public relations, ValuJet Airlines, 404-907-5414/


CO: ValuJet Airlines, Inc. ST: Georgia IN: AIR SU: OFR

BR-BN -- AT001 -- 2031 12/09/93 07:34 EST
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Publication:PR Newswire
Date:Dec 9, 1993
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