Profile: Alpine Air Express Inc (APNX.PK)

Alpine Air Express, Inc. (Alpine Air), incorporated on October 7, 1975, is engaged in the air cargo business through its wholly owned subsidiary, Alpine Aviation, Inc. (Alpine Aviation). Alpine Aviation is an air cargo operator, transporting mail packages and other time-sensitive cargo to 19 cities in the western portion of the mainland the United States. Alpine Aviation provides air cargo transportation services in the United States in Montana, North Dakota, South Dakota, Wyoming, Nebraska and Colorado. Alpine Aviation also provides contract cargo charter flights for other carriers and for the public. In addition to air cargo transportation, the Company provides maintenance service on aircraft owned or operated by third parties, leasing of passenger aircraft, and operates a First Officer Training Program. During the fiscal year ended October 31, 2010 (fiscal 2010), the Company acquired one additional Beechcraft 1900-D passenger aircraft and sold one Beechcraft 1900-C aircraft.

As of October 31, 2010, Alpine Aviation had 23 air cargo routes covering 19 cities in six western states in the mainland the United States. Most routes were flown every day and some multiple times per day. During fiscal 2010, the Alpine Aviation transported 8,444 tons of cargo. The largest component of Alpine Aviation's cargo mix was the United States mail, which accounted for approximately 69% of its revenue in fiscal 2010. As of October 31, 2010, Alpine Aviation’s largest aircraft in its fleet was a Beechcraft 1900, which held approximately 6,000 pounds of cargo, and the other aircraft type was the Beechcraft 99, which held approximately 3,400 pounds of cargo. As of October 31, 2010, the Company also owned three Beechcraft 1900-D aircraft (passenger configuration) and leased them on an annual lease basis.