Recent Wall Street Assessments of Regional Airlines

Airline	Brokerage	Recommendations	Reason
Alaska Air Group [ALK]	Blaylock & Partners April 21	DN Hold (Buy)	The holding company for Horizon Air posted a larger than expected first quarter loss. Higher fuel prices are hitting harder because it has few hedges in place.
Atlantic Coast Airlines [ACAI]	Raymond James April 29	DN Under perform (Market perform)	Analysts now expect a greater than previously expected loss for 2004 and anticipate a lower cash position for Independence Air in 2005.
Atlantic Coast Airlines [ACAI]	BB&T Capital April 29	DN Underweight (Hold)	No commentary.

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