Exhibit 99
ATLANTIC COAST AIRLINES HOLDINGS, INC.
For Immediate Release Contact: Rick DeLisi
June 4, 2002 Director, Corporate Communications
Page 1 of 2 (703) 650-6550
Atlantic Coast Airlines To Add 25 Additional CRJs
To United Express Fleet
United Express/ACA To Operate All-CRJ Fleet Of 121 Jets By
April 2004
Dulles, VA, (June 4, 2002) - Atlantic Coast Airlines (ACA)
(NASDAQ/NM: ACAI) today announced it has agreed with
Bombardier Aerospace and United Airlines to add 25
additional Canadair Regional Jet aircraft (CRJ200s) to the
airline's United Express fleet-with deliveries starting in
April 2003 and ending in April 2004. This will bring the
total number of regional jets planned for ACA's United
Express fleet to 121.
ACA announced that the new CRJs will be used in place of 32
previously-ordered Fairchild Dornier 328JETs and that ACA
will discontinue its plan to operate the 328JET in the
United Express program. ACA had taken delivery of two
328JETs for United Express that will be transitioned to the
ACA Private Shuttle program before year-end. The total
number of regional jets needed for the United Express
program operated by ACA has been revised from 128 aircraft
to 121, reflecting the larger capacity of the 50-seat CRJ.
The company anticipates that its order with Fairchild will
be formally terminated following the opening of Fairchild's
insolvency proceedings under German law.
In addition to the 62 CRJs now operated by ACA for United
Express and the 25 ordered as part of today's announcement,
ACA also has 34 previously-ordered CRJs that are scheduled
to be delivered by year-end 2003. Following the completion
of the retirement of its remaining Jetstream-41
turboprops-which will be phased out under a revised schedule
to coincide with the delivery of the new CRJ aircraft-this
will create an all-CRJ United Express/ACA fleet by April
2004.
ACA's Delta Connection program, and its operation of a fleet
of 30 328JETs is not affected by this announcement.
Senior executives of the company will conduct a live webcast
at 8:30 a.m. Eastern time on Wednesday, June 5, 2002 to
discuss this announcement and to provide an update of the
company's Outlook in light of these and other recent
developments. The live webcast can be heard directly
through the ACA website at www.atlanticcoast.com (go to the
"For Investors" section). Replays of the webcast will be
available for the remainder of the business day.
Statements in this press release and by company executives
regarding projections and expectations of future operations,
earnings, revenues and costs represent forward-looking
information. A number of risks and uncertainties exist
which could cause actual results to differ materially from
these projected results. Such factors include, among
others: the costs and other effects of enhanced security
measures and other possible government orders; changes in
and satisfaction of regulatory requirements including
requirements relating to fleet expansion; changes in levels
of service agreed to by the company with its code share
partners due to market conditions; the ability of these
partners to manage their operations and cash flow; the
ability and willingness of these partners to continue to
deploy the company's aircraft and to utilize and pay for
scheduled service at agreed rates; the ability of these
partners to force changes in rates; unexpected costs or
delays in the implementation of new service; satisfactory
resolution of union contracts becoming amendable during 2002
with the company's aviation maintenance technicians and
ground service equipment mechanics, and the company's flight
attendants; availability and cost of funds for financing new
aircraft; final termination of the company's order with
Fairchild Dornier; the ability of Fairchild Dornier or its
successors to provide adequate product support for
previously delivered 328JET aircraft; delays in delivery of
CRJ aircraft from Bombardier Inc.; ability to maintain the
early retirement schedule for the company's turboprop
aircraft; general economic and industry conditions;
additional acts of war; and, risks and uncertainties arising
from the events of September 11 and from the slow economy
which may impact the company, its code share partners, and
aircraft manufacturers in ways that the company is not
currently able to predict. These and other factors are more
fully disclosed under the company's "Management's Discussion
and Analysis of Financial Condition and Results of
Operations" in ACAI's Annual Report on Form 10-K for the
year ended December 31, 2001. These statements are made as
of June 4, 2002 and ACA undertakes no obligation to update
any such forward-looking information, whether as a result of
new information, future events, changed expectations or
otherwise.
Atlantic Coast Airlines operates as United Express in the
Eastern and Midwestern United States, and as Delta
Connection in the Eastern U.S. and Canada. The company
currently has a fleet of 126 aircraft-including 95 regional
jets-and offers over 800 daily departures, serving 67
destinations in the U.S. and Canada.
ACA employs approximately 4,300 aviation professionals. The
common stock of parent company Atlantic Coast Airlines
Holdings, Inc. is traded on the Nasdaq National Market under
the symbol ACAI. For more information about ACA, visit our
website www.atlanticcoast.com.