SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report June 14, 1999
(Date of earliest event reported) (June 11, 1999)
VANGUARD AIRLINES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-27034 48-1149290
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(State or other (Commission File Number) (I.R.S. Employer
jurisdiction Identification No.)
of incorporation)
533 Mexico City Avenue
Kansas City International Airport
Kansas City, MO 64153
(Address of principal executive offices including zip code)
Registrant's telephone number, including area code (913) 789-1388
ITEM 5. OTHER EVENTS.
Vanguard Airlines, Inc. (the "Company") issued a press release
on June 11, 1999, a copy of which is attached hereto as Exhibit 99
and is incorporated herein by reference, announcing the acceptance
by Nasdaq SmallCap Market for listing effective June 15, 1999.
The Company's ticker symbol will return to "VNGD" as of June 15, 1999.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following Exhibits are filed with this report:
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Exhibit No. Description
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99 Press Release, issued June 14, 1999.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
VANGUARD AIRLINES, INC.
/s/ Robert J. Spane
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By: Robert J. Spane
President and Chief
Executive Officer
Date: June 14, 1999
Exhibit 99
For Immediate Release June 11, 1999
Contact: Rana Walker
(913) 789-1410
VANGUARD AIRLINES ANNOUNCES
LISTING
ON NASDAQ SMALLCAP MARKET
KANSAS CITY, MO-Vanguard Airlines, Inc. (OTC: VNGDD, as of June 15, 1999,
NASDAQ: VNGD) announced today that its Common Stock has been accepted
by the Nasdaq SmallCap Market for listing effective June 15, 1999.
In connection with the listing of its shares of Common Stock on the
Nasdaq SmallCap Stock Market, the Company's ticker symbol will
return to VNGD.
Robert J. "Rocky" Spane, President and CEO of Vanguard said, "We
are excited about our return to the Nasdaq SmallCap Market. The
Company's listing follows the successful completion of a reverse
stock split and four consecutive quarters of operating profits. It
is a high priority that the Company improve its liquidity for current
and future Vanguard stockholders."
Mr. Spane continued, "By July 15, 1999, with the introduction of
service to Buffalo/Niagara Falls, we will be flying about 50% more
capacity year-over-year. Furthermore, we are anticipating that 1999
will prove to be the most profitable year in the Company's history."
Vanguard, which began service in December 1994 and is headquartered
in Kansas City, is a low-fare, passenger airline providing convenient,
scheduled jet service. Vanguard serves the following ten cities: Atlanta,
Buffalo/Niagara Falls (effective July 15, 1999), Chicago-Midway,
Cincinnati, Dallas/Ft. Worth, Denver, Kansas City, Minneapolis/St. Paul,
Myrtle Beach and Pittsburgh. The Company employs approximately 900
full-time equivalent employees and currently operates a fleet of
eleven Boeing 737-200's, with one more due for delivery in July 1999.
The Company has also signed letters of intent for three replacement
aircraft, with anticipated delivery dates in the second half of 1999.
Vanguard reported its first-ever annual operating profit in 1998 and
its fourth consecutive quarter of operating profits in the first
quarter of 1999. For more information on Vanguard, please visit
our web site at www.flyvanguard.com
This press release contains forward-looking statements that involve
risks and uncertainties. Such forward-looking statements are made
based on management's belief, as well as assumptions made by, and
information currently available to, management pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act
of 1995. Further information on such risks and uncertainties that
could affect the Company's financial results are included in the
Company's filings with the Securities and Exchange Commission, including
the Form 10-K for the year ended December 31, 1998.
