SOURCE: Alpine Air Express

November 12, 2008 06:00 ET

Alpine Air Express Rated as One of Utah's Top Public Companies

PROVO, UT--(Marketwire - November 12, 2008) - Alpine Air Express Inc. (OTCBB: APNX) is pleased to announce that the Company was rated by Utah Business' "Book of Lists 2008" as one of Utah's top 40 public companies as ranked by 2007 revenue. Alpine holds position number 25 while holding the number two position for Regional air transport companies. As ranked by revenue in 2007, Alpine was the number one rated Air Cargo Transportation Company in Utah.

Mr. Gene Mallette, Alpine Air's CEO, stated, "We are proud to be listed as one of Utah's top public companies, as well as holding the distinction as the top publicly traded Air Cargo Transport Company. We recently announced an increase in our carrying capacity through the purchase of additional Beech 1900 Aircraft. We have placed the aircraft into service, which adds to our earnings."

Mr. Mallette added, "We have been successful in reducing our fuel costs as we continue to take advantage of the recent trend of dropping oil prices. Further, we have implemented an aggressive forward fuel contracting strategy, which will have Alpine better positioned against future volatility in the fuel market. With each penny of reduced fuel prices, we reduce our annual fuel expenses by approximately $12,000. During the last quarter, fuel costs dropped by nearly $1.00, which could add over $1,000,000 to the Company's future net earnings. We are very excited about our opportunities in 2009. Cargo air transport, including the sending of mail, which is our principal business, is virtually recession proof. People continue to send mail regardless of what goes on in the world. We expect our business to continue to be quite stable this next year."

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.

Contact Information

  • Contact Information:
    Alpine Air Express Inc., Provo
    Michael Dancy