KITTY HAWK POSTS LOSS
Kitty Hawk Inc., a Dallas-based air freight carrier and logistics
provider, reported a loss of $2 million in the first quarter, compared with
a loss of $1.7 million last year.
Revenue fell 4.5 percent to $138.5 million, which Kitty Hawk said was
due to the elimination in December of its passenger charter operations.
Those operations raised $13.8 million in revenue during the first quarter
Kitty Hawk cited a 10.8-percent increase in operating income, to $7.7
million, as proof that cost-cutting efforts, including staff cuts and
aircraft retirements, are taking effect.