SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON D.C. 20549

                                   FORM 10-Q/A


   [X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

        For the quarterly period ended June 30, 1998

   [ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934

        For the transition period from ___________ to _______________


        Commission file number       1-13934


                         MIDWEST EXPRESS HOLDINGS, INC.
             (Exact name of registrant as specified in its charter)

        Wisconsin                                              39-1828757    
   (State or other jurisdiction of                          (I.R.S. Employer 
   incorporation or organization)                         Identification No.)

                            6744 South Howell Avenue
                           Oak Creek, Wisconsin  53154
                    (Address of Principal executive offices)
                                   (Zip code)

                                  414-570-4000
              (Registrant's telephone number, including area code)

   Indicate by check mark whether the Registrant (1) has filed all reports
   required to be filed by Section 13 or 15(d) of the Securities Exchange Act
   of 1934 during the preceding 12 months (or for such shorter period that
   the registrant was required to file such reports), and (2) has been
   subject to such filing requirements for the past 90 days.

                           Yes    X           No      

   As of July 31, 1998, there were 14,141,214 shares of Common Stock, $.01
   par value, of the Registrant outstanding.

   <PAGE>

   Item 1 of Part I and Item 6 of Part II for the Form 10-Q are amended and
   restated in their entirety as follows:

   Part I  Item I - Financial Statements

   <TABLE>
                                                   MIDWEST EXPRESS HOLDINGS, INC.
                                                  CONSOLIDATED STATEMENTS OF INCOME
                                          (Dollars in thousands, except per share amounts)
                                                             (Unaudited)
   <CAPTION>
                                                            Three Months Ended June 30,    Six Months Ended June 30,
                                                                 1998           1997          1998           1997    
    <S>                                                        <C>            <C>           <C>            <C>
    Operating revenues:
         Passenger service  . . . . . . . . . . . . . . .      $ 91,597       $ 76,419      $170,798       $147,847
         Cargo  . . . . . . . . . . . . . . . . . . . . .         2,939          2,699         5,869          5,292
         Other  . . . . . . . . . . . . . . . . . . . . .         5,561          4,226        11,841         10,125
                                                               --------       --------      --------       --------
              Total operating revenues  . . . . . . . . .       100,097         83,344       188,508        163,264
                                                               --------       --------      --------       --------
    Operating expenses:                                                                                            
         Salaries, wages and benefits . . . . . . . . . .        29,178         21,154        55,481         42,562
         Aircraft fuel and oil  . . . . . . . . . . . . .        10,410         11,960        21,612         25,362
         Commissions  . . . . . . . . . . . . . . . . . .         8,128          8,064        14,753         15,183
         Dining services  . . . . . . . . . . . . . . . .         4,920          4,362         9,318          8,188
         Station rental, landing and other fees . . . . .         6,240          5,768        13,446         12,384
         Aircraft maintenance materials and repairs . . .         8,985          8,353        16,452         14,263
         Depreciation and amortization  . . . . . . . . .         2,414          2,147         4,749          4,248
         Aircraft rentals . . . . . . . . . . . . . . . .         4,713          4,312         9,424          8,574
         Other  . . . . . . . . . . . . . . . . . . . . .         8,278          8,717        17,039         17,520
                                                               --------       --------      --------       --------
              Total operating expenses  . . . . . . . . .        83,266         74,837       162,274        148,284
                                                               --------       --------      --------       --------
    Operating income                                             16,831          8,507        26,234         14,980
                                                               --------       --------      --------       --------
    Other income (expense):
         Interest income  . . . . . . . . . . . . . . . .           476            339           890            639   
         Other  . . . . . . . . . . . . . . . . . . . . .           (90)           (16)         (179)           (20)
                                                               --------       --------      --------       --------
              Total other income (expense). . . . . . . .           386            323           711            619
                                                               --------       --------      --------       --------
    Income before income taxes. . . . . . . . . . . . . .        17,217          8,830        26,945         15,599
    Provision for income taxes. . . . . . . . . . . . . .         6,456          3,232        10,104          5,770
                                                               --------       --------      --------       --------
    Net income  . . . . . . . . . . . . . . . . . . . . .      $ 10,761       $  5,598      $ 16,841       $  9,829
                                                               ========       ========      ========       ========
    Net income per common share - basic                        $   0.76       $   0.39      $   1.19       $   0.69 
                                                               ========       ========      ========       ========
    Net income per common share - diluted                      $   0.75       $   0.39      $   1.17       $   0.68 
                                                               ========       ========      ========       ========

                                     See notes to consolidated financial statements.

   </TABLE>

   <PAGE>

   Part I  Item I - Financial Statements

                         MIDWEST EXPRESS HOLDINGS, INC.
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                             (Dollars in thousands)

                                                       June 30,   December 31,
                                                        1998         1997
                                                     (Unaudited)
                       ASSETS
    Current assets:
      Cash and cash equivalents . . . . . . . .       $ 18,479      $ 32,066
      Accounts receivable:
        Traffic, less allowance for doubtful
         accounts of $271 and $231 at June 30,
         1998 and December 31, 1997,
         respectively . . . . . . . . . . . . .          5,827         5,106
        Other receivables . . . . . . . . . . .            358           444
                                                      --------      --------
          Total accounts receivable . . . . . .          6,185         5,550
      Inventories . . . . . . . . . . . . . . .          3,880         3,942
      Prepaid expenses                                   4,630         3,414
      Deferred income taxes . . . . . . . . . .          5,009         4,655
      Aircraft and modifications intended to 
       be financed by sale and leaseback
       transactions . . . . . . . . . . . . . .          5,443         6,000
                                                      --------      --------
          Total current assets  . . . . . . . .         43,626        55,627
                                                      --------      --------
    Property and equipment, at cost . . . . . .        215,194       160,048
      Less accumulated depreciation . . . . . .         75,834        70,892
                                                      --------      --------
    Net property and equipment  . . . . . . . .        139,360        89,156
    Landing slots and leasehold rights, net . .          4,736         4,900
    Purchase deposits on flight equipment                2,333        14,500
    Other assets  . . . . . . . . . . . . . . .          1,916         2,565
                                                      --------      --------
    Total assets  . . . . . . . . . . . . . . .       $191,971      $166,748
                                                      ========      ========

        LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities:
      Accounts payable  . . . . . . . . . . . .       $  4,357      $  5,560
      Air traffic liability . . . . . . . . . .         38,200        28,934
      Accrued liabilities                               33,406        33,989
                                                      --------      --------
          Total current liabilities . . . . . .         75,963        68,483
                                                      --------      --------
    Long-term debt                                       3,276         3,333
    Deferred income taxes . . . . . . . . . . .          9,722        12,509
    Noncurrent scheduled maintenance expense. .         10,028         7,594
    Accrued pension and other postretirement
     benefits . . . . . . . . . . . . . . . . .          6,919         5,462
    Other noncurrent liabilities  . . . . . . .          5,604         5,969
                                                      --------      --------
    Total liabilities . . . . . . . . . . . . .        111,512       103,350
                                                      --------      --------
    Shareholders' equity:
      Preferred stock, without par value,
       5,000,000 shares authorized, no shares
       issued or outstanding  . . . . . . . . .              -             -   
      Common stock, $.01 par value, 25,000,000
       shares authorized, 14,464,056 shares
       issued in 1998 and 9,642,807 in 1997                145            96
      Additional paid-in capital  . . . . . . .          9,608         9,531
      Treasury stock, at cost . . . . . . . . .         (4,474)       (4,572)
      Retained earnings . . . . . . . . . . . .         75,180        58,343
                                                      --------      --------
    Total shareholders' equity  . . . . . . . .         80,459        63,398
                                                      --------      --------
    Total liabilities and shareholders' equity.       $191,971      $166,748
                                                      ========      ========

                       See notes to consolidated financial statements.

   <PAGE>

   Part I  Item I- Financial Statements

                         MIDWEST EXPRESS HOLDINGS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                            (Dollars in thousands)
                                 (Unaudited)

                                                   Six Months Ended June 30,
                                                           1998        1997    
   Operating activities:
     Net income  ......................................   $16,841   $ 9,829
     Items not involving the use of cash:
      Depreciation and amortization ...................     4,749     4,249
      Deferred income taxes ...........................    (3,141)     (804) 
      Other  ..........................................     2,505     2,085
     Changes in operating assets and liabilities:
      Accounts receivable .............................      (635)     (863)
      Inventories .....................................        62      (448)  
      Prepaid expenses ................................    (1,216)     (662)
      Accounts payable ................................    (1,203)      620
      Income taxes payable ............................     2,811       894
      Accrued liabilities  ............................       103    (5,115)
      Air traffic liability  ..........................     5,769     7,369
                                                          -------   -------
     Net cash provided by operating activities.........    26,645    17,154
                                                          -------   -------
   Investing activities:
     Capital expenditures  ............................   (40,793)  (14,791)
     Aircraft acquisitions and modifications 
      financed by or intended to be financed 
      by sale and leaseback transactions...............         -    (8,299)
     Proceeds from sale of property and equipment......         3        11
     Other ............................................    (3,131)     (405)
                                                          -------   -------
   Net cash used in investing activities ..............   (43,921)  (23,484)
                                                          -------   -------
   Financing activities:
     Proceeds from sale and leaseback transactions ....         -     1,266
     Other ............................................     3,689        98
                                                          -------   -------
     Net cash provided by financing activities.........     3,689     1,364
                                                          -------   -------
   Net decrease in cash and cash equivalents...........   (13,587)   (4,966)
   Cash and cash equivalents, beginning of period .....    32,066    27,589 
                                                          -------   -------
   Cash and cash equivalents, end of period ...........   $18,479   $22,623 
                                                          =======   =======

                See notes to consolidated financial statements.

   <PAGE>

                         Midwest Express Holdings, Inc.
              Unaudited Notes to Consolidated Financial Statements

   1.  Business and Basis of Presentation

        Basis of Presentation
        The consolidated financial statements for the six-month period ended
        June 30, 1998 are unaudited and reflect all adjustments (consisting
        only of normal recurring adjustments) that are, in the opinion of
        management, necessary for a fair presentation of the financial
        position and operating results for the interim period. The
        consolidated financial statements should be read in conjunction with
        the consolidated financial statements and notes thereto, together
        with management's discussion and analysis of financial condition and
        results of operations, contained in the Company's Annual Report to
        Shareholders and incorporated by reference in the Company's Annual
        Report on Form 10-K for the year ended December 31, 1997. The results
        of operations for the six-month period ended June 30, 1998 are not
        necessarily indicative of the results for the entire fiscal year
        ending December 31, 1998.

        Stock Split 
        On April 22, 1998, the Company announced that its board of directors
        had approved a plan to split its stock 3-for-2 in the form of a 50%
        stock dividend. The new shares were issued May 27 to shareholders of
        record as of May 11. The financial and share information presented
        herein for all periods has been adjusted to reflect the effect of the
        stock dividend.

   2.  New Accounting Standards 

        The Company is required to adopt SFAS No. 131,  "Disclosures about
        Segments of an Enterprise and Related Information," in the fourth
        quarter of 1998. SFAS No. 131 will supersede the business segment
        disclosure requirements currently in effect under SFAS No. 14. SFAS
        No. 131, among other things, establishes standards regarding the
        information a company is required to disclose about its operating
        segments and provides guidance regarding what constitutes a
        reportable operating segment. The Company is currently evaluating
        what disclosures will be required under SFAS No. 131.

        The Company is required to adopt the disclosure requirements of SFAS
        No. 132, "Employer's Disclosures about Pensions and Other
        Postretirement Benefits," in the fourth quarter of 1998. SFAS No. 132
        revises disclosure requirements for such pension and postretirement
        benefit plans to, among other things, standardize certain disclosures
        and eliminate certain other disclosures no longer deemed useful. SFAS
        No. 132 does not change the measurement or recognition criteria for
        such plans.

   Item 6.   Exhibits and Reports on Form 8-K.

        (a)  Exhibits

             (27)  Financial Data Schedule. 

        (b)  Reports on Form 8-K

             No reports on Form 8-K were filed during the quarter
             ended June 30, 1998.
  
   <PAGE>

                                   SIGNATURES


   Pursuant to the requirements of the Securities and Exchange Act of 1934,
   the Registrant has duly caused this amendment to this report to be signed
   on its behalf by the undersigned thereunto duly authorized.


                                Midwest Express Holdings, Inc.


   Date: September 4, 1998      By /s/ Robert S. Bahlman      
                                       Robert S. Bahlman
                                       Senior Vice President, Chief
                                       Financial Officer and Treasurer