RENO, Nev., Nov., 24 /PRNewswire/ -- Reno Air, Inc. (Nasdaq: RENO)
(PCX: RNO) today announced that it has declared dividends of approximately
$0.41 per share on its Series A Cumulative Convertible Exchangeable Preferred
Stock. Dec. 1, 1997 is the record date for the payment of dividends which are
payable on Dec. 15, 1997.
As previously announced, Reno Air completed a private placement of
$35.9 million liquidation preference of Series A Cumulative Convertible
Exchangeable Preferred Stock in October 1997 (including shares issued upon
exercise of an overallotment option). The Company realized approximately
$34 million of net proceeds from the offering.
Reno Air currently serves 24 cities with 208 peak daily scheduled
departures. The carrier's fleet of 30 MD-80 and MD-90 series jets has an
average age of less than seven years, one of the youngest all-jet fleets in
the industry. Reno Air offers everyday low fares, advance seat assignments,
domestic and international frequent flier programs, a spacious first class
cabin, "EZtrip" ticketless travel and full participation in all major computer
reservation systems.
SOURCE Reno Air, Inc.
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CONTACT:
Connie Huff, Corporate Communications,
702-686-3874, or Richard Guess, Corporate Communications,
702-686-3842, or evening/weekend, 888-396-0817, both of Reno Air
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