Kitty Hawk exploring “strategic alternatives”

Kitty Hawk exploring “strategic alternatives”

Kitty Hawk exploring “strategic alternatives”

   Express delivery carrier Kitty Hawk Inc. said it is “exploring its strategic alternatives to enhance long term prospects” that could insure a sale of some or all of the company.
   The parent company of Kitty Hawk Cargo Inc., Kitty Hawk Ground Inc. and Kitty Hawk Aircargo Inc., said other alternatives may include, but are not limited to, raising capital, altering operations or selling assets or divisions. It said it has hired Raymond James & Associates Inc. to assist it in weighing alternatives.
   Kitty Hawk provides overnight air, second-morning air and expedited ground freight transportation with door-to-door delivery options to major business centers, international freight gateways and surrounding communities throughout North America, including Alaska; Hawaii; Toronto and Vancouver, Canada; and Puerto Rico.
   The company said its services “are ideal for heavyweight (more than 150 pounds), high-value or high-security freight, special goods with unique dimensions, perishables, animals and/or other shipments requiring special handling.”