SOURCE: Alpine Air Express

April 14, 2011 06:00 ET

Alpine Air Announces 10-Q Shareholder Income

PROVO, UT--(Marketwire - Apr 14, 2011) - Alpine Air Express, Inc. (OTCBB: APNX), announced today that its operating subsidiary, Alpine Aviation, Inc. posted its 10-Q for the quarter ending January 31, 2011. Net income available to common shareholders was $496,553, a 36% increase from the same period in 2010.

Gene Mallette, CEO of Alpine Air, commented, "Our fleet's operating at near capacity on our regular routes, with a few aircraft out on lease. As the economy continues to improve, faith in its future also appears to be returning. We're looking for new opportunities and are encouraged by the overall state of affairs."

Founded in 1972, Alpine Aviation, Inc., d/b/a Alpine Air, a wholly owned subsidiary of Alpine Air Express Inc., provides air cargo transportation services in the United States, and is currently operating in Montana, North Dakota, South Dakota, Nebraska, Colorado and Wyoming. In addition to air cargo transportation, the Company flies charters for other cargo carriers, provides maintenance service on aircraft owned and operated by third parties, leases aircraft, and operates a First Officer Training Program.

This press release may contain forward-looking statements including the Company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.