EX-99.1 2 a2043092zex-99_1.txt EX-99.1 EXHIBIT 99.1 MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 JUDGE: BARBARA J. HOUSER UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF TEXAS SIXTH DIVISION MONTHLY OPERATING REPORT MONTH ENDING: FEBRUARY 28, 2001 IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) AND THE ACCOMPANYING ATTACHMENTS AND, TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT AND COMPLETE. DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY): IS BASED ON ALL INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE. RESPONSIBLE PARTY: /s/ DREW KEITH Chief Financial Officer ------------------------------------------- ------------------------ ORIGINAL SIGNATURE OF RESPONSIBLE PARTY TITLE Drew Keith 3/20/2001 ------------------------------------------- ------------------------ PRINTED NAME OF RESPONSIBLE PARTY DATE PREPARER: /s/ JESSICA L. WILSON Chief Accounting Officer ------------------------------------------- ------------------------ ORIGINAL SIGNATURE OF PREPARER TITLE Jessica L. Wilson 3/20/2001 ------------------------------------------- ------------------------ PRINTED NAME OF PREPARER DATE MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-1 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 COMPARATIVE BALANCE SHEET
SCHEDULE MONTH MONTH MONTH ASSETS AMOUNT January 2001 February 2001 ---------------------------------------------------------------------------------------------------------------------------- 1. UNRESTRICTED CASH $13,401,586 $31,545,131 $34,210,430 $0 2. RESTRICTED CASH $0 $0 $0 3. TOTAL CASH $13,401,586 $31,545,131 $34,210,430 $0 ---------------------------------------------------------------------------------------------------------------------------- 4. ACCOUNTS RECEIVABLE (NET) ($12,639,451) ($12,720,253) $0 5. INVENTORY ($1,016,667) ($1,016,667) $0 6. NOTES RECEIVABLE $15,000 $15,000 $15,000 $0 7. PREPAID EXPENSES $356,632 $447,667 $0 8. OTHER (ATTACH LIST) $422,186,692 $353,355,798 $349,988,037 $0 9. TOTAL CURRENT ASSETS $435,603,278 $371,616,443 $370,924,214 $0 ---------------------------------------------------------------------------------------------------------------------------- 10. PROPERTY, PLANT & EQUIPMENT $2,425,652 $6,076,562 $6,083,445 $0 11. LESS: ACCUMULATED DEPRECIATION / DEPLETION $2,017,973 $2,096,245 $0 12. NET PROPERTY, PLANT & EQUIPMENT $2,425,652 $4,058,589 $3,987,200 $0 ---------------------------------------------------------------------------------------------------------------------------- 13. DUE FROM INSIDERS $62,465 $219,367 $219,367 $0 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) $10,967,208 $9,791,021 $9,720,420 $0 15. OTHER (ATTACH LIST) $138,370,015 $138,370,015 $138,370,015 $0 ---------------------------------------------------------------------------------------------------------------------------- 16. TOTAL ASSETS $587,428,618 $524,055,435 $523,221,216 $0 ============================================================================================================================ POSTPETITION LIABILITIES 17. ACCOUNTS PAYABLE $3,112 ($180,111) $0 18. TAXES PAYABLE $0 $0 $0 19. NOTES PAYABLE $0 $0 $0 20. PROFESSIONAL FEES $782,236 $1,289,912 $0 21. SECURED DEBT $0 $0 $0 22. OTHER (ATTACH LIST) $2,923,280 $2,730,846 $0 ---------------------------------------------------------------------------------------------------------------------------- 23. TOTAL POSTPETITION LIABILITIES $3,708,628 $3,840,647 $0 ============================================================================================================================ PREPETITION LIABILITIES 24. SECURED DEBT $466,119,468 $390,493,178 $389,840,761 $0 25. PRIORITY DEBT $29,661 $0 $0 $0 26. UNSECURED DEBT $22,580,547 $2,232,268 $2,232,268 $0 27. OTHER (ATTACH LIST) $0 $29,163,394 $28,849,573 $0 28. TOTAL PREPETITION LIABILITIES $488,729,676 $421,888,840 $420,922,602 $0 ---------------------------------------------------------------------------------------------------------------------------- 29. TOTAL LIABILITIES $488,729,676 $425,597,468 $424,763,249 $0 ============================================================================================================================ EQUITY 30. PREPETITION OWNERS' EQUITY $98,457,967 $98,457,967 $0 31. POSTPETITION CUMULATIVE PROFIT OR (LOSS) $0 $0 $0 32. DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION) 33. TOTAL EQUITY $0 $98,457,967 $98,457,967 $0 ---------------------------------------------------------------------------------------------------------------------------- 34. TOTAL LIABILITIES & OWNERS' EQUITY $488,729,676 $524,055,435 $523,221,216 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-2 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 INCOME STATEMENT
MONTH MONTH MONTH QUARTER REVENUES January 2001 February 2001 TOTAL ---------------------------------------------------------------------------------------------------------------------------- 1. GROSS REVENUES $0 $0 $0 $0 2. LESS: RETURNS & DISCOUNTS $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 3. NET REVENUE $0 $0 $0 $0 ============================================================================================================================ COST OF GOODS SOLD 4. MATERIAL $0 $0 $0 $0 5. DIRECT LABOR $0 $0 $0 $0 6. DIRECT OVERHEAD $0 $0 $0 $0 7. TOTAL COST OF GOODS SOLD $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 8. GROSS PROFIT $0 $0 $0 $0 ============================================================================================================================ OPERATING EXPENSES 9. OFFICER / INSIDER COMPENSATION $107,083 $107,083 $0 $214,166 10. SELLING & MARKETING $0 $0 $0 $0 11. GENERAL & ADMINISTRATIVE ($1,639,921) ($667,349) $0 ($2,307,270) 12. RENT & LEASE $41,080 $31,248 $0 $72,328 13. OTHER (ATTACH LIST) $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 14. TOTAL OPERATING EXPENSES ($1,491,758) ($529,018) $0 ($2,020,776) ---------------------------------------------------------------------------------------------------------------------------- 15. INCOME BEFORE NON-OPERATING INCOME & EXPENSE $1,491,758 $529,018 $0 $2,020,776 ============================================================================================================================ OTHER INCOME & EXPENSES 16. NON-OPERATING INCOME (ATT. LIST) ($144,773) ($205,267) $0 ($350,040) 17. NON-OPERATING EXPENSE (ATT. LIST) $0 $0 $0 $0 18. INTEREST EXPENSE $0 $0 $0 $0 19. DEPRECIATION / DEPLETION $78,270 $78,270 $0 $156,540 20. AMORTIZATION $76,984 $76,984 $0 $153,968 21. OTHER (ATTACH LIST) $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 22. NET OTHER INCOME & EXPENSES $10,481 ($50,013) $0 ($39,532) ============================================================================================================================ REORGANIZATION EXPENSES 23. PROFESSIONAL FEES $1,481,277 $579,031 $0 $2,060,308 24. U.S. TRUSTEE FEES $0 $0 $0 $0 25. OTHER (ATTACH LIST) $0 $0 $0 $0 26. TOTAL REORGANIZATION EXPENSES $1,481,277 $579,031 $0 $2,060,308 ---------------------------------------------------------------------------------------------------------------------------- 27. INCOME TAX $0 $0 $0 $0 ============================================================================================================================ 28. NET PROFIT (LOSS) $0 $0 $0 $0 ============================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-3 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96
CASH RECEIPTS AND MONTH MONTH MONTH QUARTER DISBURSEMENTS January 2001 February 2001 TOTAL ------------------------------------------------------------------------------------------------------------------------- 1. CASH - BEGINNING OF MONTH $14,294,580 $31,545,131 $0 $14,294,580 ------------------------------------------------------------------------------------------------------------------------- RECEIPTS FROM OPERATIONS 2. CASH SALES $0 $0 $0 $0 ------------------------------------------------------------------------------------------------------------------------- COLLECTION OF ACCOUNTS RECEIVABLE 3. PREPETITION $0 $0 $0 $0 4. POSTPETITION $0 $0 $0 $0 ---------------------------------------------------------------------------------------------------------------------------- 5. TOTAL OPERATING RECEIPTS $0 $0 $0 $0 ========================================================================================================================= NON - OPERATING RECEIPTS 6. LOANS & ADVANCES (ATTACH LIST) $0 $0 $0 $0 7. SALE OF ASSETS $0 $0 $0 $0 8. OTHER (ATTACH LIST) $65,875,210 $31,477,401 $0 $97,352,611 9. TOTAL NON-OPERATING RECEIPTS $65,875,210 $31,477,401 $0 $97,352,611 ------------------------------------------------------------------------------------------------------------------------- 10. TOTAL RECEIPTS $65,875,210 $31,477,401 $0 $97,352,611 ------------------------------------------------------------------------------------------------------------------------- 11. TOTAL CASH AVAILABLE $80,169,790 $63,022,532 $0 $111,647,191 ========================================================================================================================= OPERATING DISBURSEMENTS 12. NET PAYROLL $3,703,643 $4,431,079 $0 $8,134,722 13. PAYROLL TAXES PAID $1,895,115 $789,238 $0 $2,684,353 14. SALES, USE & OTHER TAXES PAID $237,314 $88,993 $0 $326,307 15. SECURED / RENTAL / LEASES $3,610,102 $4,005,254 $0 $7,615,356 16. UTILITIES $103,421 $127,082 $0 $230,503 17. INSURANCE $423,996 $1,796,030 $0 $2,220,026 18. INVENTORY PURCHASES $0 $0 $0 $0 19. VEHICLE EXPENSES $0 $0 $0 $0 20. TRAVEL $1,412,100 $993,739 $0 $2,405,839 21. ENTERTAINMENT $0 $0 $0 $0 22. REPAIRS & MAINTENANCE $4,622,644 $2,628,299 $0 $7,250,943 23. SUPPLIES $0 $0 $0 $0 24. ADVERTISING $5,291 $3,974 $0 $9,265 25. OTHER (ATTACH LIST) $31,350,549 $13,626,592 $0 $44,977,141 ------------------------------------------------------------------------------------------------------------------------- 26. TOTAL OPERATING DISBURSEMENTS $47,364,175 $28,490,280 $0 $75,854,455 ========================================================================================================================= REORGANIZATION EXPENSES 27. PROFESSIONAL FEES $1,241,484 $321,822 $0 $1,563,306 28. U.S. TRUSTEE FEES $19,000 $0 $0 $19,000 29. OTHER (ATTACH LIST) $0 $0 $0 $0 30. TOTAL REORGANIZATION EXPENSES $1,260,484 $321,822 $0 $1,582,306 31. TOTAL DISBURSEMENTS $48,624,659 $28,812,102 $0 $77,436,761 32. NET CASH FLOW $17,250,551 $2,665,299 $0 $19,915,850 ------------------------------------------------------------------------------------------------------------------------- 33. CASH - END OF MONTH $31,545,131 $34,210,430 $0 $34,210,430 =========================================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-4 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96
SCHEDULE MONTH MONTH MONTH ACCOUNTS RECEIVABLE AGING AMOUNT January 2001 February 2001 -------------------------------------------------------------------------------------------------------------------------- 1. 0-30 $1,187 $19,968 $0 2. 31-60 $63,947 $63,947 $0 3. 61-90 $0 $0 $0 4. 91+ $0 $0 $0 5. TOTAL ACCOUNTS RECEIVABLE $0 $65,134 $83,915 $0 -------------------------------------------------------------------------------------------------------------------------- 6. AMOUNT CONSIDERED UNCOLLECTIBLE $12,704,585 $12,804,168 $0 -------------------------------------------------------------------------------------------------------------------------- 7. ACCOUNTS RECEIVABLE (NET) $0 ($12,639,451) ($12,720,253) $0 ==========================================================================================================================
AGING OF POSTPETITION TAXES AND PAYABLES MONTH: February 2001 --------------------------------------------- -----------------
0-30 31-60 61-90 91+ TAXES PAYABLE DAYS DAYS DAYS DAYS TOTAL ------------------------------------------------------------------------------------------------------------------------------- 1. FEDERAL $0 $0 $0 $0 $0 2. STATE $0 $0 $0 $0 $0 3. LOCAL $0 $0 $0 $0 $0 4. OTHER (ATTACH LIST) $0 $0 $0 $0 $0 ------------------------------------------------------------------------------------------------------------------------------- 5. TOTAL TAXES PAYABLE $0 $0 $0 $0 $0 ================================================================================================================================ 6. ACCOUNTS PAYABLE ($279,616) ($87,073) $181,177 $5,401 ($180,111) ================================================================================================================================
STATUS OF POSTPETITION TAXES MONTH: February 2001 ------------------------------- --------------
BEGINNING AMOUNT ENDING TAX WITHHELD AND/ AMOUNT TAX FEDERAL LIABILITY* 0R ACCRUED PAID LIABILITY -------------------------------------------------------------------------------------------------------------------- 1. WITHHOLDING** $0 $159,892 $159,892 $0 2. FICA-EMPLOYEE** $0 $0 $0 $0 3. FICA-EMPLOYER** $0 $0 $0 $0 4. UNEMPLOYMENT $0 $0 $0 $0 5. INCOME $0 $0 $0 $0 6. OTHER (ATTACH LIST) $0 $0 $0 $0 -------------------------------------------------------------------------------------------------------------------- 7. TOTAL FEDERAL TAXES $0 $159,892 $159,892 $0 ==================================================================================================================== STATE AND LOCAL 8. WITHHOLDING $0 $0 $0 $0 9. SALES $0 $0 $0 $0 10. EXCISE $0 $0 $0 $0 11. UNEMPLOYMENT $0 $0 $0 $0 12. REAL PROPERTY $0 $0 $0 $0 13. PERSONAL PROPERTY $0 $0 $0 $0 14. OTHER (ATTACH LIST) $0 $0 $0 $0 15. TOTAL STATE & LOCAL $0 $0 $0 $0 -------------------------------------------------------------------------------------------------------------------- 16. TOTAL TAXES $0 $159,892 $159,892 $0 ====================================================================================================================
* The beginning tax liability should represent the liability from the prior month or, if this is the first operating report, the amount should be zero. ** Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit. MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary. MONTH: February 2001 BANK RECONCILIATIONS -------------------
Account #1 Account #2 Account #3 A. BANK: Bank One Bank One Wells Fargo B. ACCOUNT NUMBER: 100140334 9319959434 4417-881463 TOTAL C. PURPOSE (TYPE): Operating Disbursement Operating ---------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $1,181,558 $50,000 $19,243 $1,533,852 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $3,050,031 $0 $0 $3,289,341 4. OTHER RECONCILING ITEMS $0 $0 $0 5. MONTH END BALANCE PER BOOKS ($1,868,473) $50,000 $19,243 ($1,799,230) 6. NUMBER OF LAST CHECK WRITTEN No checks 25991 No checks
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE -------------------------------------------------------------------------------------------------------------------------- 7. Wells Fargo Certificate of Deposit CD $600,000 $605,115 8. Bank One 2/28/2001 Overnight Sweep $35,359,804 $35,359,804 9. N/A 10. N/A 11. TOTAL INVESTMENTS $35,959,804 $35,964,919 CASH -------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $1,000 -------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $34,210,430 --------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary. MONTH: February 2001 BANK RECONCILIATIONS -------------------
Account #4 Account #5 Account #6 A. BANK: Bank One Bank One Bank One B. ACCOUNT NUMBER: 1570695922 100129949/9319958451 1586268961 TOTAL C. PURPOSE (TYPE): Payroll Health Insurance Flex Spending --------------------------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $239,310 $43,741 $283,051 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $239,310 $0 $239,310 4. OTHER RECONCILING ITEMS $0 $0 $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 $43,741 $43,741 6. NUMBER OF LAST CHECK WRITTEN 75181 145448 11011
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE --------------------------------------------------------------------------------------------------------------------------- 7. 8. 9. 10. 11. TOTAL INVESTMENTS $0 $0 CASH --------------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND $0 --------------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $43,741 ---------------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-5 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 The debtor in possession must complete the reconciliation below for each bank account, including all general, payroll and tax accounts, as well as all savings and investment accounts, money market accounts, certificates of deposit, government obligations, etc. Accounts with restricted funds should be identified by placing an asterisk next to the account number. Attach additional sheets if necessary. MONTH: February 2001 BANK RECONCILIATIONS -------------------
Account #7 Account #8 Account #9 A. BANK: Bank One B. ACCOUNT NUMBER: 1586269860 TOTAL C. PURPOSE (TYPE): COD ---------------------------------------------------------------------------------------------------------- 1. BALANCE PER BANK STATEMENT $0 $0 $0 $0 2. ADD: TOTAL DEPOSITS NOT CREDITED $0 $0 $0 $0 3. SUBTRACT: OUTSTANDING CHECKS $0 $0 $0 $0 4. OTHER RECONCILING ITEMS $0 $0 $0 $0 5. MONTH END BALANCE PER BOOKS $0 $0 6. NUMBER OF LAST CHECK WRITTEN 2111
INVESTMENT ACCOUNTS
DATE OF TYPE OF PURCHASE CURRENT BANK, ACCOUNT NAME & NUMBER PURCHASE INSTRUMENT PRICE VALUE ----------------------------------------------------------------------------------------------------------------------- 7. 8. 9. 10. 11. TOTAL INVESTMENTS $0 $0 CASH ----------------------------------------------------------------------------------------------------------------------- 12. CURRENCY ON HAND ----------------------------------------------------------------------------------------------------------------------- 13. TOTAL CASH - END OF MONTH $0 -----------------------------------------------------------------------------------------------------------------------
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-6 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 ------------------ PAYMENTS TO INSIDERS AND PROFESSIONALS OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE) AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE, TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSIDERS ------------------------------------------------------------------------------------------------ TYPE OF AMOUNT TOTAL PAID NAME PAYMENT PAID TO DATE ------------------------------------------------------------------------------------------------ 1. Mike Clark Salary $7,916 $74,167 2. Jim Craig Salary $33,333 $200,002 3. Janie Garrard Salary $0 $2,625 4. Drew Keith Salary $32,500 $201,462 5 Lena Baker Salary $0 $7,500 6 Jim Reeves Salary $33,333 $333,330 7 John Turnipseed Salary $0 $41,668 ------------------------------------------------------------------------------------------------ 8 TOTAL PAYMENTS TO INSIDERS $107,082 $860,754 ================================================================================================
PROFESSIONALS ---------------------------------------------------------------------------------------------------------------------------- DATE OF COURT TOTAL ORDER AUTHORIZING AMOUNT AMOUNT TOTAL PAID INCURRED NAME PAYMENT APPROVED PAID TO DATE & UNPAID * ---------------------------------------------------------------------------------------------------------------------------- 1. Lain Faulkner $49,140 $583,292 $184,159 2. Haynes and Boone $0 $2,140,128 $551,661 3. The Seabury Group $150,000 $1,500,000 $0 4. Forshey & Prostock $0 $365,670 $0 5 Price Waterhouse Coopers $0 $294,071 $106,500 6 Jay Alix and Associates $0 $640,992 $109,653 7 Andrews & Kurth $0 $823,377 $109,000 8 Jenkins & Gilchrist $0 $47,474 $0 9 Ford and Harrison $0 $201,365 $10,515 10 Grant Thornton $28,799 $173,078 $0 11 Verner Liipfert $0 $251,171 $218,424 ---------------------------------------------------------------------------------------------------------------------------- 12 TOTAL PAYMENTS TO PROFESSIONALS $0 $227,939 $7,020,618 $1,289,912 ============================================================================================================================
* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS
SCHEDULED AMOUNTS MONTHLY PAID TOTAL PAYMENTS DURING UNPAID NAME OF CREDITOR DUE MONTH POSTPETITION --------------------------------------------------------------------------------------------------------------- 1. N/A 2. N/A 3. N/A 4. N/A 5. N/A --------------------------------------------------------------------------------------------------------------- 6. TOTAL $0 $0 $0 ===============================================================================================================
MONTHLY OPERATING REPORT CASE NAME: KITTY HAWK, INC. ACCRUAL BASIS-7 CASE NUMBER: 400-42141-BJH 02/13/95, RWD, 2/96 MONTH: February 2001 ------------------ QUESTIONNAIRE
YES NO ------------------------------------------------------------------------------------------------------------------- 1. HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? X ------------------------------------------------------------------------------------------------------------------- 2. HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? X ------------------------------------------------------------------------------------------------------------------- 3. ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR LOANS) DUE FROM RELATED PARTIES? X ------------------------------------------------------------------------------------------------------------------- 4. HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES THIS REPORTING PERIOD? X ------------------------------------------------------------------------------------------------------------------- 5. HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE DEBTOR FROM ANY PARTY? X ------------------------------------------------------------------------------------------------------------------- 6. ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 7. ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 8. ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 9. ARE ANY OTHER POSTPETITION TAXES PAST DUE? X ------------------------------------------------------------------------------------------------------------------- 10. ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS DELINQUENT? X ------------------------------------------------------------------------------------------------------------------- 11. HAVE ANY PREPETITION TAXES BEEN PAID DURING THE REPORTING PERIOD? X ------------------------------------------------------------------------------------------------------------------- 12. ARE ANY WAGE PAYMENTS PAST DUE? X -------------------------------------------------------------------------------------------------------------------
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY. Item #4 - the Company has paid down approximately $652,000 on its revolving credit facility in accordance with various court orders. Cash used in the payments were a result of asset sales (aircraft and inventory) and internally generated cash. INSURANCE
YES NO ------------------------------------------------------------------------------------------------------------------- 1. ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER NECESSARY INSURANCE COVERAGES IN EFFECT? X ------------------------------------------------------------------------------------------------------------------- 2. ARE ALL PREMIUM PAYMENTS PAID CURRENT? X ------------------------------------------------------------------------------------------------------------------- 3. PLEASE ITEMIZE POLICIES BELOW. ===================================================================================================================
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
INSTALLMENT PAYMENTS ------------------------------------------------------------------------------------------------------------------ TYPE OF PAYMENT AMOUNT POLICY CARRIER PERIOD COVERED & FREQUENCY ------------------------------------------------------------------------------------------------------------------ 121 Aircraft Insurance Aviation Agency 6/1/2000 - 5/31/2001 781,160 Quarterly Workers Comp Aviation Agency 01/01/2001 - 12/31/2001 95,000 Monthly Inland Marine/Property CGU 4/1/2000 - 3/31/2001 9,902 Monthly Professional Liab Aviation Agency 6/1/2000 - 5/31/2001 25,291 Annual 135 Aircraft Insurance Aviation Agency 10/1/2000 - 9/30/2001 100,266 Quarterly Primary Auto Aviation Agency 4/1/2000 - 3/31/2001 10,827 Monthly Excess Auto Aviation Agency 4/1/2000 - 3/31/2001 29,870 Annual Medical Equipment Aviation Agency 3/29/2000 -3/29/2001 3,363 Annual Aggregate Claims Liab Reliastar 5/1/2000 - 4/30/2001 15,000 Annually Claims Admin Runout CIGNA 5/1/2000 - 4/30/2001 125,779 One time Pilot Long Term Disabl UNUM 5/1/2000 - 4/30/2001 7,975 Monthly Stop Loss Reliastar 5/1/2000 - 4/30/2001 31,635 Monthly Case Management Reliastar 5/1/2000 - 4/30/2001 1,329 Monthly Claims Administration Allied Benefit System 5/1/2000 - 4/30/2001 25,052 Monthly Life/AD&D CIGNA 5/1/2000 - 4/30/2001 11,732 Monthly EAP Behavioral Health Partners 5/1/2000 - 4/30/2001 2,941 Monthly Section 125 Admin Taxsaver 5/1/2000 - 4/30/2001 1,179 Monthly ------------------------------------------------------------------------------------------------------------------
CASE NAME: KITTY HAWK, INC. CASE NUMBER: 400-42141-BJH DETAILS OF OTHER ITEMS
ACCRUAL BASIS-1 February 2001 8. OTHER (ATTACH LIST) $ 349,988,037 Reported -------------- Intercompany Receivables 347,810,222 Escrow JRC 400,000 A/R Other 458,390 A/R Employees - A/R 401(k) Loan (492) A/R Reconciling item (10,097) Deferred Taxes 776,266 Deposits - Other 137,749 Deposits - Retainers 415,999 -------------- 349,988,037 Detail -------------- - Difference 14. OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST) 9,720,420 Reported -------------- Loan organizaiton costs 1,178,556 Bond offering costs 7,151,860 Goodwill - KH Cargo 1,390,004 -------------- 9,720,420 Detail -------------- - Difference 15. OTHER (ATTACH LIST) 138,370,015 -------------- Investment in KH Aircargo 1,000 Investment in KH International 81,974,302 Investment in Longhorn 2,266,436 Investment in KH Cargo 54,128,277 -------------- 138,370,015 Detail -------------- - Difference 22. OTHER (ATTACH LIST) $ 2,730,846 Reported -------------- Accrued expenses 888,908 Accrued interest 420,607 Accrued health savings 614,257 A/P Aging reconciling item (25,853) A/P clearing - Accrued 401(k) 27,445 Accrued Salaries/Wages 805,482 -------------- 2,730,846 Detail -------------- - Difference 27. OTHER (ATTACH LIST) $ 28,849,573 Reported -------------- Deferred Taxes 31,006,505 Accrued Taxes payable (17,685,679) Interest payable 15,528,747 -------------- 28,849,573 Detail -------------- - Difference
CASE NAME: KITTY HAWK, INC. CASE NUMBER: 400-42141 DETAILS OF OTHER ITEMS
ACCRUAL BASIS-2 16. NON-OPERATING INCOME (ATT. LIST) (205,267)Reported -------------- Interest Income (205,267) -------------- (205,267)Detail -------------- - Difference ACCRUAL BASIS-3 8. OTHER (ATTACH LIST) 31,477,401 Reported -------------- Transfers from Charters 1,550,221 Transfers from Cargo 10,678,535 Transfers from Aircargo 14,932,327 Transfers from International 5,000 Cash deposits - non-lockbox 4,066,455 Interest income 199,737 Misc Deposits 47,769 NSF Checks (2,643) -------------- 31,477,401 Detail -------------- - Difference -------------- 25. OTHER (ATTACH LIST) 13,626,592 Reported -------------- Inc. 401(k) 515,190 Employee Expenses 138,343 Bank charges 69,859 Refunds/Claims 18,650 Interest expense 307 Fuel 5,764,487 Ground Handling 2,488,812 Shipping 127,453 Ondemand Charter costs 35,085 135 Airline costs 9,075 Contract Labor 565,800 Trucking 378,441 Customs/Parking/Landing 543,414 Containers 26,226 Security 22,322 Simulator/Communication/Other Training 247,134 Misc 66,206 Asset purchase 600,000 Charts/Manuals 2,801 Shutdown costs 52,509 Deicing 167,153 Office 34,523 Subcharter Aircraft 1,752,802 -------------- 13,626,592 Detail -------------- - Difference
CASE NAME: KITTY HAWK, INC. FOOTNOTES SUPPLEMENT CASE NUMBER: 400-42141-BJH ACCRUAL BASIS MONTH: February 2001 --------------
ACCRUAL BASIS LINE FORM NUMBER NUMBER FOOTNOTE / EXPLANATION ----------------------------------------------------------------------------------------------------------- 3 8 All cash received into the each subsidiary cash account is swept each night to Kitty Hawk, Inc. Master Account ----------------------------------------------------------------------------------------------------------- 3 31 All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. controlled disbursement account. ----------------------------------------------------------------------------------------------------------- 4 6 All assessments of uncollectible accounts receivable are done at Kitty Hawk, Inc. All reserves are recorded at Inc. and pushed down to Inc.'s subsidiaries as deemed necessary. ----------------------------------------------------------------------------------------------------------- 7 All insurance policies are carried in the name of Kitty Hawk, Inc. and its subsidiaries. Therefore, they are listed here accordingly. ----------------------------------------------------------------------------------------------------------- 6 Insiders Payments to insiders include a portion of the Court approved retention payments in the month of January. -----------------------------------------------------------------------------------------------------------