SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                   FORM 10-QSB
[X]      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
         SECURITIES EXCHANGE ACT OF 1934
         For the quarterly period ended March 31, 2000

[        ] 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 0-22310

                            LAS VEGAS AIRLINES, INC.
             (Exact Name of Registrant as specified in its Charter)


            Delaware                                              33-0564327
(State or other Jurisdiction of                         I.R.S. Employer Identi-
Incorporation or Organization                                    fication No.)

                 201 1736-152 Street, Surrey, British Columbia, Canada V4A 4N4
(Address of Principal Executive Offices)                            (Zip Code)

                                                 (604) 541-6253
              (Registrant's Telephone Number, including Area Code)




         Indicate by check mark whether the Registrant (i) 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  (of for such  shorter  period  that the
Registrant  was required to file such reports) and (ii) has been subject to such
filing requirements for the past 90 days.

                                          Yes    X           No

         Indicate  the  number of  shares  outstanding  of each of the  issuer's
classes of Common Stock, as of the latest practicable date.

Common Stock, $.001 par value                                        3,957,400
----------------------------------                        ------------------
Title of Class                                      Number of Shares outstanding
                                                              at March 31, 2000
No exhibits included.

                                                        1

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<TABLE>
<CAPTION>


                            LAS VEGAS AIRLINES, INC.
                        Statements of Financial Position

                                     ASSETS

                                                                                     Sept. 30,         Mar. 31,
                                                                                       1999              2000


<S>                                                                                <C>             <C>
    TOTAL ASSETS                                                                   $           --  $           --


                      LIABILITIES AND STOCKHOLDERS' EQUITY


STOCKHOLDERS' EQUITY
Preferred Stock, $.001 par value; 1,000,000 shares
    authorized; no shares issued and outstanding

Common Stock, $.001 par value; 20,000,000 shares
    authorized; 3,937,000 and 3,957,400 shares
    issued and outstanding                                                                  3,937           3,957

Additional paid-in Capital                                                                217,530         217,530

Accumulated deficit during the development stage                                        (221,487)       (227,487)



          TOTAL STOCKHOLDERS' EQUITY


TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                         $               $


</TABLE>

                    The accompanying notes are an integral part of the financial
statements.

                                                        2

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<TABLE>
<CAPTION>


                            LAS VEGAS AIRLINES, INC.
                            Statements of Operations


                                                FOR THE SIX MONTHS                     FOR THE THREE
                                                   MONTHS ENDED                         MONTHS ENDED
                                                     March 31,                            March 31,
                                              1999             2000               1999                 2000



<S>                                     <C>                <C>              <C>                   <C>
REVENUES                                $                 $                 $                     $

OPERATING EXPENSES -  General
 and Administrative                            259,902                                 4,304

TOTAL OPERATING EXPENSES                       259,902                                 4,304

WRITE OFF OF INVESTMENT                      (638,758)

NET (LOSS)                              $    (949,660)    $                 $        (4,304)      $

NET (LOSS) PER SHARE                    $        (.24)                  (Nil)


WEIGHTED AVERAGE NUMBER
 OF SHARES OUTSTANDING                       3,938,700         3,957,400           3,957,400          3,957,400






</TABLE>

















                 See accompanying Notes to Financial Statements.

                                                        3

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<TABLE>
<CAPTION>


                            LAS VEGAS AIRLINES, INC.


                                                        STATEMENTS OF CASH FLOWS


                                                FOR THE SIX MONTHS                      FOR THE THREE
                                                       ENDED                            MONTHS ENDED
                                                     March 31,                            March 31,
                                              1999             2000               1999                 2000

CASH FLOWS FROM OPERATING
ACTIVITIES

<S>                                     <C>               <C>               <C>                      <C>
  Net (Loss)                            $    (259,902)    $                 $        (4,304)      $

  Add item not requiring the
   use of cash

  Increase (decrease) in accounts
   payable                                      24,195



  Net cash flows from operating
   activities                                (235,707)                               (4,304)

CASH FLOWS FROM INVESTING ACTIVITIES


CASH FLOWS FROM FINANCING
  ACTIVITIES
   Sale of Common Stock                         51,000


  Net Cash flows from financing
   activities                                   51,000

NET INCREASE (DECREASE) IN CASH         184,707                             (4,304)

CASH BALANCE AT BEGINNING
  OF PERIOD                                    185,130                                 4,727

CASH BALANCE AT END OF
  PERIOD                                $          423    $                 $            423      $


</TABLE>


                                The  accompanying  notes are an integral part of
the financial statements.

                                                                   4

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LAS VEGAS AIRLINES, INC.                          Notes to Financial Statements

NOTE 1      ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

            The Company was incorporated under the laws of the State of Delaware
            on May 4, 1992.  The Company was engaged in the business of offering
            scheduled  Commuter and Charter  airline  services  through its then
            subsidiary, Las Vegas Airlines, Inc. (Nevada). The Company wrote off
            its  ownership  of Las Vegas  Airlines,  Inc.  (Nevada)  during  the
            December 1998 quarter.

            The  accompanying  financial  statements are  unaudited,  but in the
            opinion of the management of the Company,  contain all  adjustments,
            consisting of only normal recurring  accruals,  necessary to present
            fairly the  financial  position  at March 31,  2000,  the results of
            operations  for the three and six months  ended  March 31,  2000 and
            1999,  and the cash flows for the three and six months  ended  March
            31, 2000 and 1999.

            Reference  is made to the  Company's  Form 10-KSB for the year ended
            September 30, 1999.  The results of operations  for the three months
            ended March 31, 2000 are not  necessarily  indicative of the results
            of  operations  to be  expected  for the  full  fiscal  year  ending
            September 30, 2000.






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Item 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
            FINANCIAL CONDITION

                  The Company ceased operations in December 1998.

                           PART II. OTHER INFORMATION

Item 1.     LEGAL PROCEEDINGS  -  None

Item 2.     CHANGES IN SECURITIES - and Use of Proceeds- None

Item 3.     DEFAULTS UPON SENIOR SECURITIES - None

Item 4.     SUBMISSION OF MATTER TO A VOTE OF SECURITY HOLDERS - None

Item 5.     OTHER INFORMATION - None

Item 6.     EXHIBITS AND REPORTS ON FORM 8-K

                  Exhibits--None

                  Reports on Form 8-K--None.


                                                         6

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                                   SIGNATURES

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


                                          LAS VEGAS AIRLINES, INC.



Date:     May 16, 2000                               By:  /s/ Allan Davis
                                                                   ------------
                                                                   Allan Davis
                                       Chief Financial Officer (chief financial
                                      officer and accounting officer and duly
                                                             authorized officer)



                                                         7

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