Kitty Hawk Forms New Operating Subsidiary -- Kitty Hawk Ground, Inc.; Kitty Hawk Adds Key New Executive for Scheduled Ground Ne
April 20 2006 - 11:42AM
Business Wire
Kitty Hawk, Inc. (AMEX:KHK) announced today that it has formed a
new wholly owned subsidiary, Kitty Hawk Ground, Inc., to manage its
growing scheduled LTL ground network. Kitty Hawk Ground, Inc. has
hired Gary Jensen, age 52, as its new Vice President and Chief
Operating Officer, reporting to Robert W. Zoller, President and
CEO. "The successful launch and initial growth of Kitty Hawk's
nationwide airport-to-airport scheduled LTL ground network has been
a significant accomplishment and a strategic milestone for our
company," said Robert W. Zoller, President and CEO. "In just a few
months, utilizing shared leadership, sales and operation team
resources from Kitty Hawk's North American air network Toby Skaar,
VP and COO -- Kitty Hawk Cargo, Inc., and his staff have created an
entirely new, but complimentary service offering for Kitty Hawk's
domestic and international customers. With the expectation for
increased growth we feel it is now an appropriate time to
transition toward a corporate structure reflecting the significance
of the LTL ground network." "Leading the new company will be Gary
Jensen as Vice President and COO. Gary joins Kitty Hawk with a
wealth of experience operating ground freight and logistics
networks and possesses a unique background that encompasses not
only operations, but also sales and marketing experience. We are
excited to have someone of Gary's caliber to further enhance Kitty
Hawk's growing ground network," said Robert W. Zoller, president
and chief executive officer. Immediately prior to joining Kitty
Hawk, Jensen served as Vice President Operations for current
YellowRoadway subsidiary USF Bestway in Phoenix, Arizona and USF
Red Star in Auburn, New York with leadership responsibilities in
each position for approximately 2000 staff, operations, claims,
industrial engineering, maintenance, safety, risk and process
management. Prior to joining USF, Jensen served as General Manager
for Logistics Insights Corporation, a transportation and logistics
company serving the automotive manufacturing industry from Warren,
Michigan, as well as eleven years and numerous increasing division,
sales and operations management responsibilities with Consolidated
Freightways. About Kitty Hawk, Inc. www.kittyhawkcompanies.com As a
recognized leader in customer service, Kitty Hawk is the premier
provider of guaranteed, mission-critical, scheduled overnight air
and beginning October 31, 2005, of scheduled time-definite
coast-to-coast less-than-truckload (LTL) ground freight
transportation to major business centers and surrounding
communities throughout North America, including, Alaska, Hawaii,
Toronto, Canada, and San Juan, Puerto Rico. 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, logistics companies and major airlines with
its extensive integrated air and ground network, fleet of Boeing
737-300SF and 727 cargo aircraft, as well as a 239,000-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 aircraft. Kitty Hawk's
air and ground cargo networks and award-winning, guaranteed
overnight time-definite service are ideal for heavy-weight
shipments (over 150 lbs), special goods with unique dimensions,
perishables, animals and other valuable shipments. 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 implement
and operate our expanded ground network; 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 coast-to-coast less than
truckload 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; liability and
other claims asserted against the Company; labor disputes; the
Company's ability to attract and retain qualified personnel;
inflation; and costs. For a discussion of these and other risk
factors, see Item 7 of the Company's Annual Report on Form 10-K for
the year ended December 31, 2005. 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.
Kitty Hawk (AMEX:KHK)
Historical Stock Chart
From Jul 2024 to Aug 2024
Kitty Hawk (AMEX:KHK)
Historical Stock Chart
From Aug 2023 to Aug 2024