Kitty Hawk (AMEX:KHK)
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Kitty Hawk, Inc. (AMEX: KHK),
today announced that its wholly-owned subsidiary, Kitty Hawk Air Cargo,
has been awarded its seventh consecutive FAA Diamond Certificate of
Excellence. The Diamond Certificate is the highest award administered by
the FAA’s Aviation Maintenance Technician
Award program, which the FAA instituted to provide incentives for
aviation maintenance technicians to participate actively in initial and
recurrent training programs.
Kitty Hawk Air Cargo achieved 100% participation of eligible individuals
for the third year in a row, double the 50% threshold required for the
Diamond level. To fulfill the requirements, Kitty Hawk provided Federal
Air Regulations and human factors training to the maintenance staff.
“This award recognizes our continued
dedication to promote aviation safety and provide our staff with
extensive training,” said Robert W. Zoller,
president and chief executive officer of Kitty Hawk, Inc. “We
congratulate each of the employees that participated in this program and
thank them for their hard work and commitment.”
Robbie Barron, vice president and chief executive officer of Kitty Hawk,
accepted the award on behalf of the Company at a ceremony on February
22, 2007 at Kitty Hawk’s Dallas-Fort Worth
offices. Individual awards were presented by FAA staff to Kitty Hawk’s
Dallas-based Aviation Maintenance Technician and Aircraft Engineering
staff. A similar award ceremony will be conducted for Kitty Hawk’s
Aviation Maintenance Technicians assigned to the Company’s
sort facility in Fort Wayne, Indiana later this month.
About Kitty Hawk, Inc.
www.kittyhawkcompanies.com
As a recognized leader in customer service, Kitty Hawk is the premier
provider of guaranteed, mission-critical, time-definite overnight air,
second-morning air and time-definite expedited ground freight
transportation to major business centers, international freight gateways
and surrounding communities throughout North America, including, Alaska;
Hawaii; Toronto, Canada; and San Juan, Puerto Rico. Kitty Hawk's
scheduled freight network and award-winning, guaranteed overnight
time-definite air or expedited ground products are ideal for
heavy-weight (over 150 lbs.), high-value or high-security, special goods
with unique dimension, perishable, animal and/or other shipments
requiring special handling.
With more than 30 years experience in the aviation and air freight
industries, Kitty Hawk plays a key connecting role in the global supply
chain. Kitty Hawk serves the logistics needs of more than 550 freight
forwarders, integrated carriers, domestic and international airlines and
logistics companies with its extensive integrated air and ground
network, fleet of Boeing 737-300SF and 727-200 cargo aircraft, as well
as a 240,000-square-foot cargo warehouse, U.S. Customs clearance and
sort facility at its Fort Wayne, Indiana hub.
In 2005, Kitty Hawk became the North American launch customer for the
fuel-efficient and environmentally friendly Boeing 737-300SF cargo
aircraft. In late 2005, Kitty Hawk launched its new coast-to-coast and
border-to-border expedited ground network reaching key business centers
throughout the US, Canada and Mexico. In early 2006, to manage the
growing demand for its high customer service ground freight product
Kitty Hawk formed Kitty Hawk Ground, Inc. In June 2006, Kitty Hawk
Ground acquired and began integrating the majority of the assets of
20-year-old Air Container Transport (ACT), the dominant expedited
airport-to-airport freight trucking company operating from Southwestern
Canada to San Diego as well as additional cities as far east as Texas
and Illinois. In early 2007, Kitty Hawk is scheduled to implement its
new internet-based, customer-focused information technology and cargo
management platform which is specifically designed for enhanced customer
service and communications, tracing and tracking of shipments as well as
operation management for all of the Company’s
air and ground network, regional hub operations and cargo accounting and
related administrative functions.
Statement under the Private Securities Litigation Reform Act:
This report may contain forward-looking statements that are intended to
be subject to the safe harbor protection provided by Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements relate to future events or future financial and
operating performance and involve known and unknown risks and
uncertainties that may cause actual results or performance to be
materially different from those indicated by any forward-looking
statements. In some cases, you can identify forward-looking statements
by terminology such as "forecast," "may," "will," "could," "should,"
"expect," "intends," "plan," "believe," "potential" or other similar
words indicating future events or contingencies. Some of the things that
could cause actual results to differ from expectations are: economic
conditions; the impact of high fuel prices; our inability to
successfully operate the C-NET network which could result in monetary
performance penalties imposed by the USPS, our inability to successfully
implement and operate our expanded scheduled airport-to-airport
expedited ground freight network; our inability to successfully operate
and integrate the Air Container Transport operation and to retain their
customers; failure of key suppliers and vendors to perform; our
inability to attract sufficient customers at economical prices for our
expanded ground network; unforeseen increases in liquidity and working
capital requirements related to our expanded ground network; potential
competitive responses from other operators of nationwide
airport-to-airport ground freight networks; the continued impact of
terrorist attacks, global instability and potential U.S. military
involvement; the Company's significant lease obligations and
indebtedness; the competitive environment and other trends in the
Company's industry; changes in laws and regulations; changes in the
Company's operating costs including fuel; changes in the Company's
business plans; interest rates and the availability of financing;
limitations upon financial and operating flexibility due to the terms of
our credit facility; liability and other claims asserted against the
Company; labor disputes; the Company's ability to attract and retain
qualified personnel; and inflation. For a discussion of these and other
risk factors, see the Company's most recent Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission. All of the forward-looking statements are qualified
in their entirety by reference to the risk factors discussed therein.
These risk factors may not be exhaustive. The Company operates in a
continually changing business environment, and new risk factors emerge
from time to time. Management cannot predict such new risk factors, nor
can it assess the impact, if any, of such new risk factors on the
Company's business or events described in any forward-looking
statements. The Company disclaims any obligation to publicly update or
revise any forward-looking statements after the date of this report to
conform them to actual results.