UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                   FORM 10-KSB

 (Mark One)

 [X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF
     THE SECURITIES EXCHANGE ACT  OF 1934

 For the fiscal year ended                           December 31, 2000
                                    -----------------------------------

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

 For the transition period from ___________ to ___________

                        Commission file number: 000-30797

                            East Coast Airlines, Inc.
                            -------------------------
                 (Name of Small Business Issuer in its charter)

               Delaware                                14-1818396
-------------------------------------      --------------------------------
 (State or other jurisdiction of            (I.R.S. Employer Identification
  incorporation or organization)                        Number)

 C/O Sullivan, McBride Hess & Youngblood, P.C.,
   4 Tower Place, Albany, NY                                12203
-------------------------------------------      ------------------------
  (Address of principal executive offices)               (zip code)

                                 (518) 438-5364
                            Issuer's Telephone Number

                       Securities registered under Section
                           12(b) of the Exchange Act:
Title of each class registered:      Name of each exchange on which registered:
----------------------------         ------------------------------------------
          None                                        None

         Securities registered under Section 12(g) of the Exchange Act:
                         Common Stock, par value $.0001
                         -------------------------------
                                (Title of class)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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 [ ]

Check  if no  disclosure  of  delinquent  filers  in  response  to  Item  405 of
Regulation S-B is contained in this form,  and no disclosure  will be contained,
to the best of  registrant's  knowledge,  in  definitive  proxy  or  information
statements  incorporated  by  reference  in Part III of this Form  10-KSB or any
amendment to this Form 10-KSB. [ ]

The issuer is a developmental stage company, and as such has yet to generate any
revenues.

The Issuer's stock is not trading on any stock exchange.

As o f April 12, 2001 the registrant has 604,500 common shares outstanding.

Documents  incorporated by reference:  See Item 13. Exhibits and Reports on Form
8-K in Part III

Transitional Small Business Disclosure Format (check one):
Yes [ ] No [X]

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Forward Looking Statements:

Certain  information  contained  herein  should be  considered  "forward-looking
statements" within the meaning of the Private  Securities  Litigation Reform Act
of 1995 which is subject to a number of risks and uncertainties. The preparation
of forward-looking  statements requires the use of estimates of future revenues,
expenses,  activity levels and economic and market conditions, many of which are
outside the control of East Coast Airlines,  Inc. ("Company") control.  Specific
factors  that could cause  actual  results to differ  materially  from those set
forth in the forward-looking  statements  include:  economic  conditions,  labor
costs;  aviation  fuel  costs;   competitive   pressures  on  pricing;   weather
conditions;  government  legislation;  consumer  perceptions  of  the  Company's
products;  demand for air transportation in the markets intended to be served by
the Company;  other  operational  matters  discussed  herein and other risks and
uncertainties.
Other  factors and  assumptions  not  identified  above are also involved in the
preparation of forward-looking statements, and the failure of such other factors
and  assumptions  to be  realized  may  also  cause  actual  results  to  differ
materially from those discussed.

                                     PART I


Item 1. Description of Business.

Incorporated  in November 1999, as a Delaware  Corporation,  East Coast Airlines
Inc.  ("Company" or "ECA") intends to become a fully certified  Federal Aviation
Regulation Part 121 air carrier.

East Coast's business  purpose is to provide  scheduled air service to small and
medium sized  markets which have  experienced  either a total or partial loss of
air  service  as a result of  shifts in  emphasis  by major  airlines  and their
regional  counterparts.  The  Company's  primary  customer is expected to be the
business traveler,  the individual most adversely impacted by service disruption
in these markets.  ECA is intended to be an independent carrier, not constrained
by affiliation with any major airline. As such the Company will be free to shape
service to the market being served.

Starting  with  flight  operations  in New York  State,  ECA  intends  to expand
throughout the Northeast and then to the Middle Atlantic States.

The company intends to initiate  service from as many as three cities within the
first  year of  operation.  To meet this  objective,  the  Company  will need to
acquire a minimum of two aircraft.

In New York ,the Northeast and the Middle Atlantic states, preliminary marketing
research has indicated that potential candidates for service could be drawn from
a selection of the following cities.

In New York -
- Olean
- Jamestown
- Elmira
- Binghamton
- Ithaca

In the Northeast
- Pittsfield, MA

In Middle Atlantic States
- Cumberland MD.
- Morgantown WV
- Dover DE

All of the locations noted appear to meet the desired criteria referenced above.
Final  selection of origination  points would be made prior to the initiation of
the certification process.

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The primary emphasis however,  during the first phase of operations would be New
York.

In addition to scheduled  service,  the Company  intends to consider  initiating
"on-demand"  charter  service  from  service  points  at or near the  points  of
scheduled service  origination.  Market research will have to be completed prior
to commitment to any program of this nature.  If initiated,  such charters would
be sold in the off hours such as nights and weekends to maximize the utilization
of assets while reducing the conflict with scheduled service.

Airlines are essentially capital intensive service  organizations.  As such, the
investment in aircraft and ground support equipment as well as the certification
process would represent the preponderance of the use of proceeds  resulting from
any capital formation program undertaken by the Company.

The  Airline  Industry:  Domestic  airline  travel  has  been  impacted  by  the
deregulation  of  the  industry,  which  occurred  in  1978.  Since  that  time,
governmental  approval of route  structures  and pricing has been  eliminated in
favor of allowing  market  demand to dictate  which  routes are flown by various
air-carriers and at what price.

As a result of deregulation, the major and the regional airlines have carried in
excess of 700,000,000  passengers in 1999.  This in contrast to the  200,000,000
transported  in 1980.  Deregulation  has made airline  travel  affordable.  As a
result, the American consumer has now embraced air travel as the preferred means
of conveyance.  The airlines have also  established  pricing  policies that have
insured affordability based on advance purchases.

The  predominant  current  practice by the major airlines is the use of the "hub
and spoke"  concept  whereby  passengers  are channeled by  affiliated  regional
airlines to a hub airport and  consolidated  with other arriving  passengers for
transportation  to an ultimate  destination.  In this  manner,  load  factors on
aircraft are optimized for the benefit of economy of scale but  oftentimes,  the
transportation  desires  of the  traveler  are  subrogated  to the  needs of the
airline to maintain these load factors.

The  concept  "hub and spoke" has  created  billion  dollar  commitments  by the
airlines to various  airports  designated  as "hubs".  For  example,  US Airways
primary hubs are located in Pittsburgh and Philadelphia.  Delta Airlines primary
hubs are  located in  Cincinnati  and Salt Lake City;  North west  Airlines,  in
Detroit and Minneapolis;  and Southwest, in St. Louis and Kansas City, Missouri.
These financial  commitments are now driving the strategies of the various major
airlines to achieve higher "feeds" to the respective hubs.

The main strategy  being used to increase the feed is the mandating by the major
airlines that their regional  counterparts  upgrade to aircraft carrying between
forty and seventy  passengers and focus on those markets which will support this
equipment.  This  mandate  represents a  significant  shift from the capacity of
current aircraft used by these regional counterparts.  Accordingly, this mandate
is forcing  the  regional  carriers  to  abandon or reduce  service to small and
medium sized markets previously serviced, profitably, with smaller nineteen seat
passenger aircraft.

For  the  smaller  to  medium-sized  communities  seeking  to  maintain  or seek
scheduled air service for the first time, these industry trends have reduced the
probability that service may be provided.

The business  traveler who has to travel either to or from these communities has
been and will continue to be the most adversely impacted.

A number of Fortune 500 companies have expanded the use of corporate aircraft to
minimize the impact of the loss of air service.

In the Northeast,  for example, Corning Glass maintains its own thirty passenger
corporate  shuttle to Newark,  New Jersey daily.  They have chosen to operate in
this manner since no direct  service  exists from its  headquarters  (located in
Elmira/Corning  New York) to Newark,  which is a key airport  for  international
departures.  USAirways,  the primary  carrier  serving the  Corning  area,  only
provides  service direct to LaGuardia  airport,  which  significantly  restricts
corporate travel.

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Equipment  Choice:  The airline intends to acquire and operate British Aerospace
Jetstream 32 EP aircraft.  This  aircraft is a  pressurized  nineteen  passenger
airplane  with a  stand-up  cabin  as  well  as  on-board  lavatory  facilities.
Pressurization  is a key aircraft  attribute that allows for flight at altitudes
where more favorable weather and aircraft  performance  conditions may be found.
Pressurization  of an  aircraft  also  maintains  a  close  to sea  level  cabin
atmosphere at high altitude that  generally  eliminates  the need for continuous
oxygen supply for passengers.

Further, the nineteen passenger aircraft will enhance ECA's initiative to market
its charter  capability.  Nineteen  passenger aircraft are believed to be highly
desired by travel agents setting up leisure tours to gaming institutions as well
as corporations requiring the periodic shuttling of personnel.

Competition:  In the  markets  to be served by East Coast  Airlines,  management
believes that there will be no direct competition from other air carriers.

Over the routes being  considered in the target market areas,  there is nodirect
competition  from other carriers.  For example,  a route from Elmira,New York to
Newark, New Jersey would entail a flight time of one hour direct. USAirways, the
primary  carrier  would require two stops and seven hours of travel to arrive at
the same destination.  USAir would charge a roundtrip fare of approximately $900
for this service.  ECA's non-discount  walkup fare is estimated at approximately
$500. Both fares are exclusive of any passenger facility charge (PFC) or Federal
Excise Tax(FET).

ECA will not operate in direct competition with any major carrier.

Competition  from a start up airline such as ECA is a possibility but management
views this as unlikely  since the splitting of a market in the locations  chosen
by ECA would not likely support the operations of two carriers. Further, The two
primary  thresholds  which need to be  crossed  prior to the  initiation  of air
service are  financial and  regulatory.  Both are  interrelated.  An entity must
demonstrate to the satisfaction of the Department of Transportation, that it has
the financial  resources to sustain itself for six months without the benefit of
operational  revenue  based  on the  route  structure  being  used  for  initial
certification.  This  financing  is in addition to the capital  requirement  for
equipment acquisition and certification.

For ECA the  total  estimated  financial  requirement  is  $5,000,000.  ECA will
operate nineteen passenger  aircraft on a limited route structure.  For contrast
purposes,  an operator utilizing jet equipment such as a Boeing 737 will require
financing in the range of  $10,000,000-  to $15,000,000- in order to demonstrate
financial fitness to the Department of Transportation.

The standards of certification are found under Federal Aviation Regulation (FAR)
Part 121 and mandate  that any airline  carrying  passengers  on aircraft of ten
seats or more must maintain a certain  staffing  profile as well as  maintenance
and  operational  procedures  to insure  that  Federal  Aviation  Administration
regulations  with  regard to safety are met. In the past  operators  of nineteen
passenger aircraft were able to operate under the less stringent requirements of
FAR Part 135.

However,  indirect competition arises from carriers operating from cities within
a few hours  driving time of the  communities  to be served by ECA. For example,
from such points,  the carriers could offer deep price discounts through advance
purchasing or other means causing a certain number of the travelers ECA seeks to
attract to drive to these  locations in order to take advantage of the discounts
being offered.

Except in the most remote areas in the United States, most travelers have access
to discounted  airfares at major air centers within one to four hours of surface
transportation  time. The Company  believes that travellers  weigh the perceived
value of the  savings to be  achieved  against  the added  transportation  time;
accordingly  the added  surface  transport  time may not be a  deterrent  to the
discretionary traveler.

However,  unlike the discretionary  traveler,  the business traveler, who is the
ECA's target customer, is significantly disadvantaged due to time and scheduling
constraints.  The example noted  previously with respect to the comparative cost
and travel times from Elmira,  New York to Newark, New Jersey are believed to be
sufficient reason for the business and discretionary traveler to chose ECA.

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Marketing Strategy

The  marketing  efforts  relating to  scheduled  air service  will center on the
attainment of the following objectives.

- Low cost service,

-On time service, and

-Non stop, direct service when possible

The  implementation of the Company's  marketing plan prior to service initiation
will consist of a coordinated  media program  involving  print,  television  and
radio. The frequency and content of any media would be structured according to a
time line,  which  would  begin  approximately  ninety  days prior to  beginning
service from a given location.

It is also  management's  intent  to  engage in a  speaker's  program  involving
presentations  to civic and  business  organizations  in the  communities  where
service is to be provided.

Employees

ECA did not have any employees during calendar 2000 and has none to date.

Certification

The airline will be seeking  certification as a Federal Aviation Regulation Part
121 air carrier.  The process is very  difficult and there is no guarantee  that
ECA will become  certificated.  In the event that ECA is unable to be certified,
all money spent in the process will have been lost.

The  certification  under Part 121  involves an in-depth  qualitative  review of
every aspect of the  operation of the airline as well as the  financial  plan to
support that operation.  Representative of the nature of the process which would
take place are the  following  actions.  The intent of the  process is to assure
compliance with Part 121.

-Examination  of overall  administrative  duties with a focus on the command and
control of all operations and the individuals involved.

-Analysis  of all  company  manuals,  policies  and  procedures  relating to the
maintenance  of the  aircraft  to be used.  Included  in this review is also the
qualification of the personnel and their respective work histories.

-Examination  of all  manuals,  policies and  procedures  relating to the flight
operations including the training syllabus for the subject aircraft to be used.

-Actual in flight review of operational practices over the intended routes to be
flown  including  the  observation  and  evaluation  of  the  administration  of
emergency  procedures  relating to  mechanical,  weather,  terrorist  as well as
medical  situations which may occur.  Also included is the evaluation of Company
dispatch  practices  which are  integral  to flight  operations  since it is the
dispatcher,  who in conjunction with the Captain of a flight,  will determine an
action to be taken with respect to flight.

The  certification  process is lengthy  and can take from six to nine  months to
complete.  It is  estimated  that the process will cost  approximately  one-half
million dollars.

Regulation

The Federal Aviation  Administration ("FAA") regulates all aspects of flight and
maintenance operations,  airline operations and operational  specifications.  In
some circumstances, the FAA can compel an airline to

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cease operations  while  compliance with Federal Aviation  Regulations are under
review.

Such  compliance  reviews may be  conducted  at any time or for any reason based
solely  on the  judgement  of FAA  personnel.  The  FAA  has  the  right,  on an
unannounced  basis, to inspect any aspect of the company's flight or maintenance
operations.  In some cases,  an  inspection by the FAA can also be prompted by a
third party complaint.

In similar  fashion,  the  Department  of  Transportation  ("DOT")  oversees the
financial fitness of the airline.  Statutes require that periodic  financial and
operating reports be provided to the DOT. If in its judgment, subject to certain
guidelines,  the DOT  believes  that the  company  does  not have the  financial
resource to continue operations,  it has the administrative right to suspend the
operating certificate of the airline.

In the event either of these regulatory agencies causes an operational  stoppage
for inspection purposes, the airline could be adversely impacted. Depending upon
the time involved until flight operations could be restored,  the company may be
unable meet its financial obligations.


Fuel Costs

At current  prices,  fifty percent of the direct  operating costs of an aircraft
are for fuel.

Due to the ability to make volume  purchases  of fuel,  many major  airlines are
able to hedge fuel cost increases  through  agreements with major oil producers.
ECA does not have this capability.

Should there be a significant  increase in the cost of fuel, ticket prices would
have to be increased to accommodate  the  underlying  fuel cost. Any increase in
ticket  prices would have an immediate  and adverse  effect on load factors and,
therefore, operating revenue.

Competition

Once ECA has developed a profitable route, it is possible that other
carriers  may attempt to provide  service on the same route at fares below those
offered  by ECA.  Were  this to  occur,  the  Company's  profitability  would be
adversely  impacted  through  either the loss of sales or the  erosion of profit
margins related to ticket sales.


Weather

The  airline  will be  operating  in the  northeast,  a region  that is  weather
sensitive  insofar as scheduled  operations are concerned.  Any of the following
conditions can occur during the course of a calendar year, all of which have the
potential to create significant travel delays.
-Thunderstorms
-Fog
-In-flight icing
-Wind shear
-Turbulence
-Snowfall and blizzard conditions
-Flooding

These same conditions may indirectly affect scheduled operations due to
their impact on the  airspace  infrastructure  as well as direct  effects on the
operational  capability of the aircraft the Company  intends to operate.  In the
most  adverse  circumstances,  such  conditions  have caused  airlines to suffer
serious  financial  consequences  as a result of  operating  limits  and  public
perception of the airline itself.

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Employee Work Stoppage

The airline is intended  to be a non-union  organization.  Should any segment of
the employee base (flight crews,  maintenance,  or other  personnel)  attempt to
become represented in a collective bargaining process, work interruptions may be
threatened  or  result  which  could  cause   cessation  of  operations  with  a
corresponding adverse financial impact.

Current Management.

The  Company's  success  will depend upon  Messrs.  Robert  Salluzzo and Charles
Youngblood, the President and Vice President, respectively, of the Company.

As  officers  and  directors,  it will be their  responsibility  to  secure  the
necessary  certificates,   equipment  and  personnel  as  well  as  oversee  the
implementation of the Company's business plan.

While management has had experience in the aviation industry, management has had
no experience in the actual operation of an airline.

Also, in order to secure  certification  as a Part 121 air carrier,  ECA will be
required to hire qualified personnel for the following positions.

-Director of Operations
-Chief Pilot
-Chief Inspector
-Chief of Maintenance
-Dispatch Personnel- Initially one to two individuals

None these  positions  are currently  staffed,  and it will be necessary to have
these individuals hired prior to the start of the certification process.

Item 2. Description of Property.

The Company is presently using the offices of one of its officers and directors,
Charles G. Youngblood of Albany, New York on a rent free basis. When the Company
acheives the necessary  capital raise to fund the  commencement  of its business
operations, it will locate suitable corporate facilities.

Item 3. Legal Proceedings.

         The Company is not a party to any legal proceedings.


Item 4. Submission of Matters to a Vote of Security Holders.

         There  have been no matters  that have  required  a  submission  to the
shareholders for a vote.

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                                     PART II

Item 5. Market for Common Equity and Related Stockholder Matters.

The Company  has  registered  its class of common  shares  under the  Securities
Exchange Act of 1934 and files its annual,  quarterly  and current  reports with
Securities and Exchange  Commission.  The Company has not attempted to establish
any trading market for its common shares to date.

The company has thirty- seven shareholders  including management who hold shares
of the common stock of the Company.

Dividends

The Company has not  declared or paid,  nor has it any present  intention to pay
cash dividends on its common stock.

Recent Issues of Unregistered Securities

The  Company  did not issue  any of its  securities  during  the  quarter  ended
Decmeber 31, 2000.

Item 6. Management's Discussion and Analysis or Plan of Operation.


Plan of Operation

The Company is in the initial stages of startup and is exploring the feasibility
of raising  sufficient  capital to implement its business  plan. The Company has
been in the development stage since inception (November 17, 1999).

The  Company  has  registered  its  class  of  common  stock  on  a  Form  10-SB
registration  statement filed pursuant Section 12(g) of the Securities  Exchange
Act of 1934 (the "Exchange Act").

The  Company  has  limited  capital  and is unable to  commence  the  operations
described in its business plan until it raises  equity or debt  funding.  At the
present time, the Company has not commenced  operations or any activities beyond
the planning stage

The Company has incurred,  and will continue to incur,  expenses relating to its
operations.  Specifically,  as long as the Company is  required to file  reports
under the Exchange Act, the Company will continue to incur  accounting and legal
fees relating to these  filings.  The Company  enjoys the  non-exclusive  use of
office, telecommunication and incidental supplies of stationary, provided by its
officers.  As of the date of this  report,  the  Company has not  generated  any
revenues.

The Company  must rely upon loans and  investments  from  affiliates  to pay its
operating  expenses.  There are no assurances that such affiliates will continue
to advance  funds to the  Company or will  continue  to invest in the  Company's
securities.  In the event the Company is unable to obtain additional  capital or
funding it may be unable to pursue its business plan.

Once the Company  completes its business  planning and  commences  acquiring the
assets and resources  necessary to execute its business  plan,  the Company will
need  additional  funding.  No  significant  cash or funds  are  expected  to be
required for the Company to complete its business planning.

Liquidity

At December  30,  2000,  the Company had a working  capital  deficit of $15,792,
compared to a working capital deficit of $4,152 at May 31, 2000. The decrease in
working  capital is the result of the net loss incurred  during the eight months
ended  December 30, 2000,  which was partially  offset by the receipt of $10,450
received from the sale of common stock during the period.

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From inception  through December 31, 2000, the Company received $10,950 from the
sale of its common stock.  Company  management  anticipates that it will have to
continue  to rely upon  loans from its  officers  and  directors  and the future
placement of equity or debt to meet its development stage operating needs.

Results of Operations

During the twelve months ended December 31,2000,  the Company recorded a loss of
$26,742,  of which  $23,166  was the  result  of legal and  accounting  expenses
incurred during the period. In part, the legal and accounting expenses relate to
the  filing  of  the  Company's  Form  10-SB  registration  statement  with  the
Securities and Exchange Commission.

During the twelve  months ended  December 31, 2000,  net cash used by operations
was $8,313.  During the period, the Company increased its accrued liabilities by
$18,429.  Net cash from  financing  activities  during the twelve  months  ended
December 30, 2000 was $10,850.


Item 7. Financial Statements.

The  Company's  Financial  Statements  and  Notes to  Financial  Statements  are
attached hereto as an Exhibit and incorporated herein by reference.


Item  8.  Changes  In and  Disagreements  With  Accountants  on  Accounting  and
Financial Disclosure.

          None


                                    PART III

Item 9. Directors, Executive Officers, Promoters and Control Persons; Compliance
With Section 16(a) of the Exchange Act.


The names of all directors and executive officers of the Company are as follows.
<TABLE>
<S>                                        <C>            <C>
Name                                       Age            Position
Robert J. Salluzzo                         53             President/Chief Executive Officer/Director
Charles G. Youngblood                      42             Vice-President/Director
</TABLE>

Mr. Salluzzo is also the Secretary of the Corporation and Mr. Youngblood is also
the Treasurer of the Corporation.

The above listed officers and directors will serve until the next annual meeting
of the shareholders or until their death, resignation,  retirement,  removal, or
disqualification,   or  until  their  successors  have  been  duly  elected  and
qualified.  Vacancies in the existing  Board of Directors are filled by majority
vote of the  remaining  Directors.  Officers of the Company serve at the will of
the  Board of  Directors.  There are no  agreements  or  understandings  for any
officer or director to resign at the request of another person and no officer or
director  is  acting  on  behalf  of or will act at the  direction  of any other
person.

Robert J. Salluzzo  - President / Chief Executive Officer / Director

Mr.  Salluzzo  is a  commercial  pilot  rated in the Cessna  Citation  series of
business  jets.  From  1977  through  1985  he flew as a  member  of the  flight
department of a Fortune Five Hundred company located in Albany, New York.

Mr. Salluzzo began his professional  career with Price Waterhouse & Co. in 1969,
specializing in all areas of taxation  relevant to  multinational  corporations,
high net worth  individuals and various  charitable and personal benefit trusts.
In 1976 he established his own accounting firm focusing on the needs of emerging
businesses.   In  this  capacity,   he  was  involved  in  the   structuring  of
multi-million dollar asset based credit.
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<PAGE>


facilities as well as  integrating  funding from economic  development  agencies
into capital formation plans for development stage companies.

In 1985,  he merged his firm into a major  regional  accounting  firm located in
Albany,  New York.  Mr.  Salluzzo  was one of six partners  responsible  for the
substantial  growth of the firm.  In 1992 he retired to  establish a  consulting
practice aimed solely at the needs of emerging and  development  stage companies
with a concentration in aviation related activities  including business planning
for airports.

Throughout his professional  career,  Mr. Salluzzo has been actively involved in
aviation  pursuits,  not only as a pilot  but also as a  consultant  in  various
aviation matters, including airline certification and management.

He was primarily  responsible  in a consulting  role for the  construction  of a
general aviation airport located in Canadaigua, New York State. He has consulted
with numerous  communities on air service needs as well as being a guest speaker
at aviation seminars. He has also teamed with leading New York State engineering
firms in relation to various airport projects throughout New York State.

Charles G. Youngblood - Vice President / Director

Mr.  Youngblood  is  a  practising  attorney  as  well  as  a  Certified  Public
Accountant.  He is a  partner  in the law  firm  of  Sullivan,  McBride,  Hess &
Youngblood P.C. located in Albany, New York.

Mr.  Youngblood's  area of expertise is  corporation  law and in that regard has
been  extensively  involved in advising  emerging  entities  with respect to the
appropriate  corporate  status and corporate situs to be used as well as guiding
principals as to internal  organizational matters such as by law structure,  buy
sell agreement and other succession  issues. As a Certified Public Accountant he
is also able to integrate operational planning into the advisement offered.

Mr.  Youngblood was an adjucnt  professor  teaching  undergraduate  and graduate
courses  in the  taxation  of  corporate  reorganizations  as  well  as  general
corporate taxation in the School of Business at the State University at Albany.

He is a graduate  of the Albany Law School of Union  College as well as graduate
of Washington State University,  having graduated with a Bachelor of Arts Degree
in Business Administration.

Compliance with Section 16(a) of The Securities Exchange Act of 1934.

The  directors  and  officers  of the  Company as well as all  shareholders  who
beneficially own 10% or more of the outstanding common stock of the company have
filed all Forms 5 required several days following the required filing dates.
         .

Item 10. Executive Compensation.

None of the company's officers and or directors have received any
compensation  for services since  inception  through the date hereof.  They have
agreed to serve without compensation until operations have commenced.

No deferred  compensation,  pension,  profit  sharing,  stock  option or welfare
benefit  plan or program has been  adopted by the Company for the benefit of its
officers or future employees.

Item 11. Security  Ownership of Certain  Beneficial  Owners and Management.  The
following  table  sets forth the record and  beneficial  ownership  of  company,
common stock,  by each executive  officer and director as a group as well as for
any person or group who is known to be the  beneficial  owners of more than five
per cent (5%) of the commons shares of the Company.

Page 10

<PAGE>




<TABLE>
<S>                          <C>                        <C>                        <C>
                             Name and Address Of
Title of Class               Beneficial Owner           Amount                     Percentage Of Class
--------------               ----------------           -------                    -------------------
Common                       Robert J. Salluzzo         475,000 shares             78.6%
                             Johnstown, New York

Common                       Charles G. Youngblood      25,000 shares              4.1%
                             Slingerlands, New York

Common                       Jeff S. Potter             50,000 Shares              8.2%

Common                       All Officers and           500,000 shares             82.8%
                             Directors (2 persons)
</TABLE>

Item 12. Certain Relationships and Related Transactions.

There have been no related  party  transactions,  or any other  transactions  or
relationships required to be disclosed pursuant to Item 404 of Regulation S-B.


Item 13. Exhibits and Reports on Form 8-K .

The  Exhibits  that are filed  with  this  report  or that are  incorporated  by
reference are set forth in the Exhibits Index.

The  Company did not file any Forms 8-K during the quarter  ended  December  31,
2000.

Page 11




<PAGE>


                                   SIGNATURES

In accordance  with Section 13 or 15(d) of the  Securities  Exchange Act of 1934
The  Registrant  has caused this  report  caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                            East Coast Airlines Inc.
-------------------------------------------------------------------------------
                                  (Registrant)

By             /s/ Robert J. Salluzzo
    ---------------------------------------------------------------------------
             Robert J. Salluzzo, President, Chief Executive Officer
                         and Principal Financial Officer

                              Dated: April 13, 2001

In accordance with the requirements of the Securities Exchange Act of 1934, this
Report  has  been  signed  below  by the  following  persons  on  behalf  of the
Registrant and in the capacities and on the dates indicated.




By         /s/ Robert J. Salluzzo
    ----------------------------------------------
           Robert J. Salluzzo Director

                 April 13, 2001

By     /s/ Charles G. Youngblood
    ----------------------------------------------
         Charles G. Youngblood Director

              Dated: April 13,2001

Page 12

<PAGE>



Exhibits Index


Financial Statements and Notes to Financial Statements

(3) (i)  Certificate  of  Incorporation,  Incorporated  herein by  reference  to
    Company's Form 10SB filed with the Commission on June 13, 2000.

(3) (ii) By-Laws of the Company,  Incorporated  herein by reference to Company's
    Form 10 SB filed with the Commission on June 13, 2000.


Other Documents Incorporated Herein by Reference


(a) The  Company's  quarterly  reports on Forms 10QSB for the periods ended June
30, 2000 and September 30, 2000.











Page 13



<PAGE>


                            East Coast Airlines, Inc.
                          (A Development Stage Company)

                              FINANCIAL STATEMENTS


<TABLE>
               <S>                                                                     <C>
               Contents                                                                Page
               --------                                                                ----
               Independent Auditor's Report                                             15
               Balance Sheet, December 31, 2000                                         16
               Statements of Operations, for the year ended December 31, 2000           17
               Statements of Cash Flows, for the year ended December 31, 2000           18
               Statement of Stockholders' Equity, December 31, 2000                     19
               Notes to Financial Statements                                           20-22
</TABLE>


Page 14

<PAGE>




                          INDEPENDENT AUDITOR'S REPORT

To the Board of Directors and Stockholders of
East Coast Airlines, Inc.

We have audited the accompanying  balance sheet of East Coast Airlines,  Inc. (a
development  stage  company) (the  "Company")  as of December 31, 2000,  and the
related  statements of operations,  stockholders'  deficiency and cash flows for
the period April 27, 2000 through  December 31, 2000 and for the period November
17,  1999  (Date of  Formation)  through  December  31,  2000.  These  financial
statements   are  the   responsibility   of  the   Company's   management.   Our
responsibility  is to express an opinion on these financial  statements based on
out audit.

We conducted our audit in accordance with generally accepted auditing standards.
Those standards  require that we plan and perform the audit to obtain reasonable
assurance   about  whether  the  financial   statements  are  free  of  material
misstatement.  An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements.  An audit also includes
assessing the  accounting  principles  used and  significant  estimates  made by
management,  as well as evaluating the overall financial statement presentation.
We believe that our audit provides a reasonable basis for our opinion.


In our opinion,  such financial  statements referred to above present fairly, in
all material respects,  the financial  position of East Coast Airlines,  Inc. at
December 31, 2000, and the results of their  operations and their cash flows for
the period April 27, 2000 through  December 31, 2000 and for the period November
17, 1999 (Date of  Formation)  through  December 31, 2000,  in  conformity  with
generally accepted accounting principles.

The accompanying  financial  statements have been prepared  assuming the Company
will continue as a going concern.  The Company is a development stage enterprise
whose business  purpose is to provide  scheduled air service to small and medium
sized  markets  which have  experienced  either a total or  partial  loss of air
service as a result of shifts in emphasis by major  airlines and their  regional
counterparts.  The Company  intends to be an independent  carrier not affiliated
with any major  airline.  As more  fully  explained  in Note 1 of the  financial
statements,  the Company  needs to obtain  additional  financing  to fulfill its
developmental  activities  and achieve a level of sales  adequate to support its
cost structure.  These uncertainties raise substantial doubt about the Company's
ability to continue as a going concern. Management's plans are also described in
Note 1. The  accompanying  financial  statements do not include any  adjustments
that might result from the outcome of these uncertainties  should the Company be
unable to continue as a going concern.

 /s/     Wiener, Goodman & Company, P.C.
         WIENER, GOODMAN & COMPANY, P.C.
         Certified Public Accountants
         Eatontown, New Jersey
         March 3, 2001



                                     Page 15


<PAGE>


                            EAST COAST AIRLINES, INC

                          (A DEVELOPMENT STAGE COMPANY)

                                  BALANCE SHEET

<TABLE>
<S>                                                                    <C>

                                ASSETS

                                                                        December 31,
                                                                            2000

Current Assets:
    Cash                                                                     $ 2,537
    Due from stockholder                                                         100
                                                                                 ---

     Total Assets                                                            $ 2,637
                                                                             =======

                      LIABILITIES AND STOCKHOLDERS' DEFICIENCY

Current Liabilities:
    Accounts Payable                                                        $ 15,829
    Accrued Expenses                                                           2,600
                                                                               -----
     Total Liabilities                                                        18,429
                                                                              ------

Stockholders' Deficiency:
    Common stock - $.0001 par value-
     authorized 20,000,000 shares;
     604,500 shares
     Outstanding at December 31, 2000,                                            60
    Additional paid-in-capital                                                10,890
    Deficit accumulated during
     development stage                                                       (26,742)
                                                                             --------
     Total Stockholders' Deficiency                                          (15,792)
                                                                             --------

     TOTAL LIABILITIES AND
     STOCKHOLDERS' EQUITY DEFICIENCY                                         $ 2,637
                                                                             =======
</TABLE>


The  accompanying  Notes to Financial  Statements  are an integral  part of this
statement.





                                     Page 16


<PAGE>


                            EAST COAST AIRLINES, INC.

                          (A DEVELOPMENT STAGE COMPANY)

                             STATEMENT OF OPERATIONS

<TABLE>
<S>                                           <C>                    <C>
                                                    Period                    Period
                                                April 27, 2000            November 17, 1999
                                                    through          (Date of formation through
                                               December 31, 2000        December 31, 2000)


Cost and Expenses:
    General and administrative
     expenses                                            $ 26,742                   $ 26,742
                                             -           ---------      -           --------

    Net (loss)                                          $ (26,742)                 $ (26,742)
                                             =          ==========      =          ==========

    (Loss) per Common Share-
     basic and diluted                                    $ (0.09)
                                             =            ========

    Weighted average number of
     common shares outstanding-
     basic and diluted                                    290,519
                                             =            =======

</TABLE>


The  accompanying  Notes to Financial  Statements  are an integral  part of this
statement.







                                     Page 17


<PAGE>


                            EAST COAST AIRLINES, INC.

                          (A DEVELOPMENT STAGE COMPANY)

                             STATEMENT OF CASH FLOWS

<TABLE>
<S>                                                <C>                <C>
                                                   For the period            Period
                                                   April 27, 2000      November 17, 1999
                                                      through         (Date of Formation)
                                                    December 31,        through December
                                                        2000                31, 2000

Cash flows from operating activities:

Net (loss)                                               $ (26,742)             $ (26,742)
Changes in operating assets
     and liabilities                                        18,429                 18,429
                                                            -------                ------

    Net cash (used in) operating
     activities                                             (8,313)                (8,313)
                                                            -------                -------

Cash flow from financing activities:
    Proceeds from sale of
     common stock                                            10,950                10,950
    Officer loan                                              (100)                  (100)
                                                              -----                  -----
    Net Cash Provided by
     Financing Activites                                    10,850                 10,850
                                                            -------                ------

    Net increase in Cash                                      2,537                 2,537
    Cash - beginning of period                                   -                      -
                                                                 --                    -
    Cash - ending of period                                $ 2,537                $ 2,537
                                                           ========              =======

Supplementary Information:
    Cash paid during the year for:

    Interest                                                   $ -                    $ -
                                                               ====                   ===

    Income taxes                                             $ 800                  $ 800
                                                             ======                 =====

</TABLE>


The  accompanying  Notes to Financial  Statements  are an integral  part of this
statement.







                                     Page 18


<PAGE>


                            EAST COAST AIRLINES, INC
                          (A DEVELOPMENT STAGE COMPANY)
                        STATEMENT OF STOCKHOLDERS' EQUITY

<TABLE>
<S>                            <C>            <C>             <C>              <C>            <C>

                                                                                                   Deficit
                                                                                                 Accumulated
                                                               Additional                          During
                                Number of        Common          Paid in                         Development
                                  Shares          Stock          Capital          Deficit           Stage
Balance at Inception
     (November 17, 1999)                                $ -             $ -              $ -               $ -

                                                                                                             -
     Net loss                             -               -               -                -
                                                                                                             -
                               -------------  --------------  --------------   --------------  ----------------
                               -------------  --------------  --------------   --------------  ----------------

Balance, December 31, 1999                -               -               -                -                 -

Sale of Common Stock                      -               -               -
                                                                                                             -
     (at $0.001-$0.10 per           604,500              60          10,890                -
     share)                                                                                             10,950

     Net loss                             -               -               -         (26,742)
                                                                                                      (26,742)
                               -------------  --------------  --------------   --------------  ----------------
                               -------------  --------------  --------------   --------------  ----------------

Balance, December 31, 2000          604,500            $ 60        $ 10,890       $ (26,742)    $     (15,792)
                               =============  ==============  ==============   ==============  ================
</TABLE>


The  accompanying  Notes to Financial  Statements  are an integral  part of this
statement.



Page 19



<PAGE>


                            EAST COAST AIRLINES, INC.
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS

1.  DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING
    -------------------------------------------------------------
     POLICIES

Organization

The Company was incorporated in the State of Delaware on November 17, 1999. From
inception  through  December  31,  2000,  the  Company  has  not  yet  commenced
operations  and no  revenue  has  been  derived.  Accordingly,  the  Company  is
considered a development stage enterprise. There is no assurance that operations
will be  achieved  or that  the  Company  will  achieve  a  profitable  level of
operations.  The Company  intends to become a fully certified  Federal  Aviation
Regulation Part 121 air carrier.

East Coast's business  purpose is to provide  scheduled air service to small and
medium sized  markets which have  experienced  either a total or partial loss of
air  service  as a result of  shifts in  emphasis  by major  airlines  and their
regional  counterparts.  The Company intends to be an independent  carrier,  not
affiliated with any major airline.

The  Company  intends  to begin  operations  in New York  State,  and to  expand
throughout the Northeast and then to the Middle Atlantic States.

Nature of Business and Liquidity

The Company's  financial  statements  for the year ended  December 31, 2000 have
been prepared on a going concern basis which  contemplates  the  realization  of
assets and  settlement of  liabilities  and  commitments in the normal course of
business.  Management  recognizes  that the  Company's  continued  existence  is
dependent upon its ability to obtain needed working capital  through  additional
equity  and/or debt  financing  and the  commencement  of its planned  principal
operations.

The  Company's  business  is  subject  to  most  of the  risks  inherent  in the
establishment  of a new business  enterprise.  The  likelihood of success of the
Company must be considered in light of the  expenses,  difficulties,  delays and
unanticipated  challenges  encountered in connection with the formation of a new
business,  raising operating and development capital, and the marketing of a new
product.

The Company  presently  does not have  sufficient  liquid  assets to finance its
anticipated  funding needs and  obligations.  If fundraising  activities are not
successfully  completed,  the Company may not be able to meet its obligations as
they  become due and,  accordingly,  may not be able to  continue  its  business
operations as presently anticipated.

Management is actively seeking  additional capital to ensure the continuation of
its  development  activities.  However,  there is no assurance  that  additional
capital will be obtained.  These uncertainties raise substantial doubt about the
ability of the Company to continue as a going concern.

Use of Estimates

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
affect  the  reported  amounts  of assets  and  liabilities  and  disclosure  of
contingent  assets and  liabilities at the date of the financial  statements and
the reported amount of revenues and expenses during the reporting period. Actual
results could differ from those estimates.


Page 20


<PAGE>



Loss Per Common Share

Basic and diluted loss per common share are computed by dividing the net loss by
the weighted average number of common shares outstanding during the year.

Fair Value of Financial Instruments

For financial instruments including cash, accounts payable and accrued expenses,
it was assumed that the carrying amount  approximated  fair value because of the
short maturities of such instruments.

Income Taxes

At December 31, 2000 the Company has a net operating  loss ("NOL")  carryforward
of  approximately  $26,750 for  financial  reporting  purposes  and zero for tax
purposes.  The difference  between financial  reporting and tax purposes results
from temporary differences caused by capitalization of start-up expenditures for
tax purposes as required by the  Internal  Revenue Code Section 195. The Company
has not  reflected any benefit of such net operating  loss  carryforward  in the
accompanying  financial  statements  in  accordance  with  Financial  Accounting
Standards  Board  Statement  No. 109 as the  realization  of this  deferred  tax
benefit is not more than likely.

New Financial Accounting Standards

In December  1999, the  Securities  and Exchange  Commission  (SEC) issued Staff
Accounting  Bulletin  No. 101 ("SAB  101"),  "Revenue  Recognition  in Financial
Statements". SAB 101 summarizes certain of the SEC's views in applying generally
accepted accounting  principles to revenue recognition in financial  statements.
The Company  adopted the  provisions of SAB 101 during the fourth  quarter ended
December 31, 2000.  Such  adoption has not resulted in a material  impact on the
Company's consolidated results of operations, financial position or cash flows.

In March,  2000,  the  Financial  Accounting  Standards  Board  ("FASB")  issued
Interpretation  No.  44  (FIN  No.  44),  Accounting  for  Certain  Transactions
Involving Stock Compensation - an interpretation of APB 25. FIN No. 44 clarifies
(i) the  definition  of  employees  for purposes of applying APB Opinion No. 25,
(ii) the criteria for determining  whether a plan qualifies as a noncompensatory
plan, (iii) the accounting consequences of various modifications to the terms of
a  previously  fixed  stock  option or  award,  and (iv) the  accounting  for an
exchange of stock compensation awards in a business combination.  FIN No. 44 was
effective  July 1, 2000.  This standard has not had a significant  impact on the
Company's consolidated results of operations, financial position or cash flows.



2.       COMMON STOCK

The Company has a single  class of Common  Stock with a par value of $0.0001 per
share.  At December 31, 2000,  604,500 shares were issued and  outstanding.  The
president  of the  Company  purchased  475,000  shares  in  April  2000  and the
secretary  of the Company  purchased  25,000  shares in April 2000 at $0.001 per
share.

Such shares were issued  without  registration  in reliance on an  exemption  in
federal  securities  laws that permit issuance of stock up to $1 million without
registration of the securities.


3.     RELATED PARTY TRANSACTIONS

The officer of the Company  borrowed $100 in September  2000.  The receivable at
December 31, 2000 is $100.


Page 21


<PAGE>



As described in Note 2, the  president  and  secretary of the Company  purchased
475,000 and 25,000 shares of stock respectively.

4.     PRIOR FINANCIAL STATEMENT

Although the Company  incorporated  November 17, 1999,  no  capitalization  took
place until the year 2000 and there was no activity for the period  November 17,
1999 (Date of Formation) through December 31, 1999.

Page 22