EXHIBIT 99.1

AIR METHODS
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                                              The #1 Airborne Healthcare Company

           AIR METHODS CORPORATION PROVIDES UPDATE ON 2006 4TH QUARTER
                               AND YEAR-END EVENTS

DENVER,  CO, March 1, 2007 -- Air Methods Corporation (NasdaqGS: AIRM) announced
today  that  its  independent  auditors  have  accepted the Company's request to
change  its  method  of  accounting for revenue and estimated uncompensated care
(previously  referred  to  as  bad  debt  expense)  to  a more preferred method.
Effective  December 31, 2006, the Company will now present revenue and estimated
uncompensated  care  on  a  net  basis  within  the  consolidated  statement  of
operations.  Previously,  the Company recorded revenue at full established rates
and recorded a provision for estimated amounts not expected to be realized as an
operating  expense.  Prior  periods  will  be  reclassified  to  reflect the new
accounting  presentation in the 2006 financial statements.  The change will have
no  impact  on  cash  flows  from  operations,  operating income, net income, or
earnings  per  share  as  reported  in  the  current  and  prior  years.

The  Company  also  announced  that  with  the  significant  increase in taxable
earnings  generated  in 2006, it now estimates that its effective federal income
tax  rate  in  current  and future periods will increase from 34% to the highest
level  of  35%.  The change in estimate increased federal income taxes above the
new  35%  federal  income  tax  rate  by  approximately  $771,000  or  $0.06 per
fully-diluted  share  for  the  fourth  quarter  and  $496,000  or  $0.04  per
fully-diluted  share  for  the  year.  This  excess  was primarily attributed to
applying  the  new  35%  federal  income  tax  rate to the Company's current and
deferred  net  tax  liabilities.

The  Company also announced that its December 2006 aviation accident will impact
net  income  (net  of income taxes) by approximately $561,000 or $0.05 per share
for  the fourth quarter and year ended 2006.  This amount includes the uninsured
portion  of the aircraft book value, self-insured workers compensation benefits,
and  estimated  missed flights due to out-of-service time.  The Company does not
anticipate  any  further material financial impacts from the accident for future
periods.

The  Company  anticipates announcing 2006 year end results on March 8th, pending
final  completion  of  year-end  auditing  procedures.

Air  Methods  Corporation  (www.airmethods.com)  is  a  leader  in  emergency
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aeromedical  transportation  and  medical  services.  The  Air  Medical Services
Division  is  the  largest  provider  of  air  medical  transport  services  for
hospitals.  The LifeNet Division is one of the largest community-based providers
of  air  medical  services.  The Products Division specializes in the design and
manufacture  of  aeromedical  and  aerospace  technology. The Company's fleet of
owned,  leased  or  maintained  aircraft features over 200 helicopters and fixed
wing  aircraft.

                                      AIRM
                                     NASDAQ
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FORWARD  LOOKING  STATEMENTS: This news release includes certain forward-looking
statements, which are subject to various risks and uncertainties. Actual results
could  differ  materially  from  those  currently anticipated due to a number of
factors,  including  but  not  limited  to the size, structure and growth of the
Company's  air  medical  services and products markets; the collection rates for
patient  transports;  the  continuation  and/or  renewal  of air medical service
contracts;  the  acquisition of profitable Products Division contracts and other
flight  service  operations;  the  successful  expansion  of the community-based
operations;  and  other  matters  set  forth  in  the  Company's public filings.
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CONTACTS:  Aaron  D. Todd, Chief Executive Officer, (303) 792-7413 or Joe Dorame
at  Lytham Partners, LLC, at (602) 889-9700.  Please contact Christine Clarke at
(303)  792-7579  to  be  included  on  the  Company's  fax  and/or mailing list.