Exhibit 10.25(d)
                                                            
                                                            
           ATLANTIC COAST AIRLINES HOLDINGS, INC.
             NONQUALIFIED STOCK OPTION AGREEMENT
                              

This Nonqualified Stock Option Agreement ("Option
Agreement") is between Atlantic Coast Airlines Holdings,
Inc., a Delaware Corporation (the "Company"), and the
employee named in Section 1 below (the "Optionee").

                    W I T N E S S E T H:
                              
WHEREAS, the Company has adopted the Atlantic Coast Airlines
Holdings, Inc. 1995 Stock Incentive Plan, as amended (the
"Plan") for the purpose of encouraging ownership of common
stock, $.02 par value ("Common Stock"), of the Company by
eligible key employees and directors of the Company, of
providing increased incentive for such employees and
directors to render services and to exert maximum effort for
the business success of the Company, and of further
strengthening the identification of employees and directors
with the stockholders; and

WHEREAS, the Company, acting through the Compensation
Committee of its Board of Directors (the "Committee"), has
determined that its interests will be advanced by the
issuance to Optionee of a nonqualified stock option under
the Plan.

NOW, THEREFORE, for and in consideration of these premises
it is agreed as follows:

1.   Identifying Provisions: As used in this Option
Agreement, the following terms shall have the following
respective meanings:

(a)  Optionee: ______________

(b)  Date of Grant: ___________

(c)  Effective Date: ____________

(d)  Number of shares subject to Option Agreement: ______

(e)  Exercise Price per share: $ _____

(f)  Expiration Date:  ___________

2.   Option.  Subject to the terms and conditions contained
herein, the Company hereby grants to Optionee the right and
option ("Option") to purchase from the Company up to that
number of shares of Common Stock specified in Section 1(c)
of this Option Agreement, at a price per share equal to the
Exercise Price specified in Section 1(d) of this Option
Agreement.  This Option is not intended to qualify as an
incentive stock option under Section 422 of the Internal
Revenue Code.

3.   Option Period.  The Option herein granted may not be
exercised or exercisable after the Expiration Date specified
in Section 1(e) of this Option Agreement.  This Option shall
not be exercisable on the Date of Grant, but, subject to
such further terms and limitations set forth herein, on each
anniversary of the Date of Grant this Option shall become
exercisable to purchase, and shall vest with respect to, a
number of shares of Common Stock (rounded to the nearest
whole share) such that the aggregate number of shares of
Common Stock as to which this Option has become exercisable
shall equal the total number of shares subject to this
Option Agreement (as specified in Section 1(c)), multiplied
by the percentage set forth below with respect to the
specified anniversary of the Date of Grant:

                     Date                          Percentage of
                                                Option Exercisable
On the first anniversary of the Date of Grant:          20%
On the second anniversary of the Date of Grant:         40%
On the third anniversary of the Date of Grant:          60%
On the fourth anniversary of the Date of the            80%
Grant:
On the fifth anniversary of the Date of the            100%
Grant:

4.   Procedure for Exercise.  The Option herein granted may
be exercised by written notice by Optionee to the Secretary
of the Company setting forth the number of shares of Common
Stock with respect to which the Option is to be exercised,
and specifying such further information regarding delivery
of such shares as the Secretary of the Company may
reasonably request.  Payment shall be by means of cash, or a
cashier's check or bank draft, payable to the order of the
Company, by a commitment from a brokerage firm acceptable to
the Secretary of the Company to pay the aggregate Exercise
Price from proceeds of a sale of shares issuable on exercise
of the Option, or at the option of the Optionee, in Common
Stock theretofore owned by such Optionee for at least six
months (or a combination of cash and Common Stock).  As
promptly as practicable after exercise of this Option, the
Company shall issue to Optionee the number of shares of
Common Stock with respect to which such Option has been so
exercised.

5.   Termination of Employment.  If Optionee's employment
with the Company is terminated prior to the Expiration Date
for any reason other than death or disability, the Option
shall immediately terminate to the extent it is not
exercisable on the date of Optionee's termination of
employment.  To the extent that the Option is exercisable on
the date of Optionee's termination of employment for any
reason other than death or disability, the Option may be
exercised at any time on or before the earlier of (i) the
close of business on the thirtieth (30th) day after such
date of termination of employment, and (ii) the Expiration
Date.

6.   Disability or Death.  If Optionee's employment with the
Company is terminated by Optionee's disability or death, the
Option shall immediately terminate to the extent it is not
exercisable on such date.  To the extent that the Option is
exercisable on the date of Optionee's termination of
employment on account of disability or death, the Option may
be exercised by Optionee, his executor or administrator, or
the person or persons to whom his rights under this Option
Agreement shall pass by will or by the laws of descent and
distribution, as the case may be, at any time on or before
the earlier of (i) the date that is one (1) year from the
date of Optionee's death or the date of the determination of
Optionee's disability, and (ii) the Expiration Date.
Optionee shall be deemed to be disabled if, in the opinion
of a physician selected by the Committee, he is incapable of
performing services for the Company by reason of any
medically determinable physical or mental impairment which
can be expected to result in death or to be of long,
continued and indefinite duration.

7.   Transferability.  This Option shall not be transferable
by Optionee otherwise than by Optionee's will or by the laws
of descent and distribution.  During the lifetime of
Optionee, the Option shall be exercisable only by him.  Any
heir or legatee of Optionee shall take rights under this
Option subject to the terms and conditions of this Option
Agreement.  No such transfer of this Option Agreement to
heirs or legatees of Optionee shall be effective to bind the
Company unless the Company shall have been furnished with
written notice thereof and a copy of such evidence as the
Committee may deem necessary to establish the validity of
the transfer and the acceptance and assumption by the
transferee or transferees of the obligations of the Optionee
and of the other terms and conditions hereof.

8.   No Rights as Stockholder.  Optionee shall have no
rights as a stockholder with respect to any shares of Common
Stock covered by this Option Agreement until the date of
issuance of shares of Common Stock purchased pursuant to
this Option Agreement.  Until such time, Optionee shall not
be entitled to dividends or to vote at meetings of the
stockholders of the Company.  Except as provided in
paragraph 10 hereof, no adjustment shall be made for
dividends (ordinary or extraordinary, whether in cash or
securities or other property) paid or distributions or other
rights granted in respect of any share of Common Stock for
which the record date for such payment, distribution or
grant is prior to the date upon which the Optionee shall
have been issued share certificates, as provided
hereinabove.

9.   Extraordinary Corporate Transactions.

          A.    If  the  Company experiences a  "Fundamental
Change"  (as  that term is defined in Section  6(i)  of  the
Plan),  the Committee may make appropriate and proportionate
adjustments  in  the  number and type  of  shares  or  other
securities or cash or other property that may thereafter  be
acquired upon the exercise of the Option; provided, however,
that  any  such  adjustments in the  Option  shall  be  made
without  changing the aggregate Exercise Price for the  then
unexercised portion of the Option.
          
          B.    Acceleration  of Option  upon  a  Change  in
Control.  If the Company experiences a Corporate Change, the
exercisability  and vesting of this Option shall  accelerate
as  of  the date of such Corporate Change.  The Compensation
Committee   of   the  Company's  Board  of  Directors   (the
"Committee")  shall  provide  that  if  a  Corporate  Change
occurs,  then  effective  as  of  a  date  selected  by  the
Committee,  the  Committee  (which  for  purposes   of   the
Corporate Changes described in clauses (iii) and (v) of  the
definition of Corporate Change below shall be the  Committee
as  constituted  prior to the occurrence of  such  Corporate
Change) acting in its sole discretion without the consent or
approval  of  Optionee,  will effect  one  or  more  of  the
following  alternatives or combination of alternatives  with
respect   to   this  Option  (which  alternatives   may   be
conditional  on  the  occurrence of such  of  the  Corporate
Change specified in clause (i) through (v) of the definition
of  Corporate Change below which gives rise to the Corporate
Change):  (1) in the case of a Corporate Change specified in
clauses (i), (ii) or (iv) of the definition thereof, provide
that  the Option (including any portion exercisable pursuant
to  the  first  sentence  of this  Paragraph  9.A.)  may  be
exercised in full for a limited period of time on or  before
a  specified date (which will permit Optionee to participate
with  the Common Stock received upon exercise of such option
in the event of a Corporate Change specified in clauses (i),
(ii) or (iv) of the definition of Corporate Change below, as
the  case  may  be)  fixed  by the  Committee,  after  which
specified  date  the  Option  and  all  rights  of  Optionee
hereunder  shall  terminate, (2)  provide  that  the  Option
(including  any portion exercisable pursuant  to  the  first
sentence  of this Paragraph 9.A.) may be exercised  for  the
Options  then  remaining term, or (3) require the  mandatory
surrender  to  the  Company of this  Option  (including  any
portion  exercisable pursuant to the first sentence of  this
Paragraph 9.A.) as of a date, before or not later than sixty
days   after  such  Corporate  Change,  specified   by   the
Committee,  and in such event the Committee shall  thereupon
cancel such Options and the Company shall pay to Optionee an
amount of cash equal to the excess of the fair market  value
of  the  aggregate shares subject to such  Option  over  the
aggregate  option  price of such shares; provided,  however,
the  Committee  shall  not  select  an  alternative  (unless
consented  to  by  Optionee)  that,  if  Optionee  exercised
Optionee's accelerated Options pursuant to alternative 1  or
2  and  participated in the transaction specified in  clause
(i),  (ii)  or  (iv)  of the definition of Corporate  Change
below  or  received  cash pursuant to alternative  3,  would
result  in Optionee's owing any money by virtue of operation
of   Section  16(b)  of  the  Exchange  Act.   If  all  such
alternatives  have such a result, the Committee  shall  take
such action, which is hereby authorized, to put Optionee  in
as close to the same position as Optionee would have been in
had  alternative  1,  2  or  3  been  selected  but  without
resulting   in   any   payment  by  Optionee   pursuant   to
Section  16(b)  of  the Exchange Act.   Notwithstanding  the
foregoing,  with the consent of Optionee, the Committee  may
in lieu of the foregoing make such provision with respect of
any Corporate Change as it deems appropriate.
          
          C.    Definitions.  For purposes of this Agreement
"Corporate  Change"  shall  each  mean  (i)  any  merger  or
consolidation  in  which  the  Company  shall  not  be   the
surviving  entity  (or  survives only  as  a  subsidiary  of
another   entity,   unless  the  stockholders   of   Company
immediately   before  such  merger  or  consolidation   own,
directly or indirectly immediately following such merger  or
consolidation,  substantially all  of  the  combined  voting
power  of  the  surviving entity in substantially  the  same
proportion as their ownership immediately before such merger
or  consolidation, (ii) the sale of all or substantially all
of the Company's assets to any other person or entity (other
than  a  wholly-owned subsidiary), (iii) the acquisition  of
beneficial  ownership  or  control  of  (including,  without
limitation,  power to vote) more than 50% of the outstanding
shares of Common Stock by any person or entity (including  a
"group"  as  defined  by or under Section  13(d)(3)  of  the
Exchange  Act), (iv) the dissolution or liquidation  of  the
Company, (v) a contested election of directors, as a  result
of  which  or in connection with which the persons who  were
directors  of  the  Company before such  election  or  their
nominees  cease to constitute a majority of  the  Board,  or
(vi)  any other event specified by the Committee, regardless
of whether at the time an Option is granted or thereafter.
          
10.  Compliance With Securities Laws.  Upon the acquisition
of any shares pursuant to the exercise of the Option herein
granted, Optionee (or any person acting under paragraph 7 of
this Agreement) shall enter into such written
representations, warranties and agreements as the Company
may reasonably request in order to comply with applicable
securities laws or with this Option Agreement.

11.  Compliance With Laws.  Notwithstanding any of the other
provisions hereof, Optionee agrees that he will not exercise
the Option granted hereby, and that the Company will not be
obligated to issue any shares pursuant to this Option
Agreement, if the exercise of the Option or the issuance of
such shares of Common Stock would constitute a violation by
the Optionee or by the Company of any provision of any law
or regulation of any governmental authority.  The
certificates representing the shares of Common Stock
purchased by exercise of an Option will be stamped or
otherwise imprinted with legends in such form as the Company
or its counsel may require with respect to any applicable
restrictions on sale or transfer and the stock transfer
records of the Company will reflect stop-transfer
instructions with respect to such shares.

12.  Withholding of Tax.  If the Company becomes obligated
to withhold an amount on account of any tax imposed as a
result of the exercise of the Option, including, without
limitation, any federal, state, local or other income tax,
or any F.I.C.A., Medicare, state disability insurance tax or
other employment tax, the Optionee shall be obligated, as of
the first date on which the Company is so obligated, to pay
such amounts to the Company in cash or check, or other
property acceptable to the Secretary of the Company in his
sole discretion; and, if the Optionee fails to make such
payment, the Company is authorized by the Optionee to
withhold from any payments then or thereafter payable to the
Optionee, any such amounts or the Company may otherwise
refuse to issue or transfer any shares otherwise required to
be issued or transferred pursuant to the terms hereof.  The
Committee may, in its sole discretion, allow the Optionee to
pay any such amounts through the surrender of whole shares
of Common Stock or by having the Company withhold whole
shares of Common Stock otherwise issuable upon the exercise
of this Option.  Any such shares surrendered or withheld
shall be valued at their market value, determined by such
method as the Secretary of the Company in his sole
discretion shall determine, equal to the sums required to be
withheld as of the date on which the amount of tax to be
withheld is determined.

13.  Resolution of Disputes.  As a condition of the grant of
the Option hereby and of the ability to exercise the Option,
the Optionee and his heirs, successors and personal
representatives agree that any dispute or disagreement which
may arise hereunder shall be determined by the Committee in
its sole discretion and judgment, and that any such
determination and any interpretation by the Committee of the
terms of this Option Agreement shall be final and shall be
binding and conclusive, for all purposes, upon the Company,
Optionee, his heirs, successors and personal
representatives.

14.  Notices.  Every notice hereunder shall be in writing
and shall conclusively be deemed to be given only if given
by registered or certified mail.  All notices of the
exercise of any Option hereunder shall be directed to
Atlantic Coast Airlines Holdings, Inc., 515-A Shaw Road,
Dulles, Virginia 20166, Attention: Secretary.  Any notice
given by the Company to Optionee directed to him at his
address on file with the Company shall be effective to bind
him and any other person who shall have acquired rights
hereunder.  The Company shall be under no obligation
whatsoever to advise Optionee of the existence, maturity or
termination of any of Optionee's rights hereunder and
Optionee shall be deemed to have familiarized himself with
all matters contained herein and in the Plan which may
affect any of Optionee's rights or privileges hereunder.

15.  Construction and Interpretation.  Whenever the term
"Optionee" is used herein under circumstances applicable to
any other person or persons to whom this award, in
accordance with the provisions of paragraph 7 hereof, may be
transferred, the word "Optionee" shall be deemed to include
such person or persons.  References to the masculine gender
herein also include the feminine gender for all purposes.
This Option Agreement shall be administered, interpreted and
enforced under the laws of the State of Delaware.

16.  Agreement Subject to Plan.  This Option Agreement is
subject to the Plan (including any subsequent amendments
thereto).  In the event of a conflict between any term or
provision contained herein and a term or provision of the
Plan, the applicable terms and provisions of the Plan will
govern and prevail.  All definitions of words and terms
contained in the Plan shall be applicable to this Option
Agreement.

17.  Employment Relationship.  For purposes of this Option
Agreement, an employee shall be considered to be in the
employment of the Company as long as he remains an employee
of the Company or an Affiliate (as defined in the Plan) or
remains a director of the Company or of such an Affiliate.
Any questions as to whether and when there has been a
termination of such employment and the cause of such
termination shall be determined by the Committee, and its
determination shall be final.  Nothing contained herein
shall be construed as conferring upon the Optionee the right
to continue in the employ of the Company, nor shall anything
contained herein be construed or interpreted to limit the
"employment at will" relationship between the Optionee and
the Company.

18.  Binding Effect.  This Option Agreement shall be binding
upon and inure to the benefit of any successors to the
Company.

          IN WITNESS WHEREOF, the Option Agreement has been
executed as of the ____ day of _________ _____.
          
                              
                              Atlantic Coast Airlines
                                   Holdings, Inc.
                              
                              
                              By:___________________________
                                   ____
                              
                              
                              Optionee
                              
                              
                              ______________________________
                                   ____
                              Name