-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 VjSdKNGpX3R6GRWvocv1Vf8Qq1OUTAJH2hMCLzFQ6vo2iC+mZnQNrslfCUiz6KC9
 jvB1flZnvnNKyP1WHA/E8A==

<SEC-DOCUMENT>0000919574-04-001225.txt : 20040409
<SEC-HEADER>0000919574-04-001225.hdr.sgml : 20040409
<ACCEPTANCE-DATETIME>20040409164809
ACCESSION NUMBER:		0000919574-04-001225
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040408
FILED AS OF DATE:		20040409

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EVEREST CAPITAL MASTER FUND L P
		CENTRAL INDEX KEY:			0001224843

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25202
		FILM NUMBER:		04727247

	BUSINESS ADDRESS:	
		STREET 1:		C/O CITCO FUND SERVICES BERMUDA LTD
		STREET 2:		45 REID STREET HAMILTON
		CITY:			BERMUDA
		STATE:			D0
		ZIP:			00000

	MAIL ADDRESS:	
		STREET 1:		C/O CITCO FUND SERVICES BERMUDA LTD
		STREET 2:		45 REID STREET HAMILTON
		CITY:			BERMUDA
		STATE:			D0
		ZIP:			00000

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KITTY HAWK INC
		CENTRAL INDEX KEY:			0000932110
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, NONSCHEDULED [4522]
		IRS NUMBER:				752564006
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 612787
		STREET 2:		1515 W 20TH ST
		CITY:			DALLAS/FT WORTH INTN
		STATE:			TX
		ZIP:			75261
		BUSINESS PHONE:		9724562200

	MAIL ADDRESS:	
		STREET 1:		P O BOX 612787
		STREET 2:		1515 W 20TH ST
		CITY:			DALLAS/FT WORTH INTN
		STATE:			TX
		ZIP:			75261

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EVEREST CAPITAL LTD
		CENTRAL INDEX KEY:			0000922216
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25202
		FILM NUMBER:		04727248

	BUSINESS ADDRESS:	
		STREET 1:		CORNER HOUSE 20 PARLIAMENT ST
		STREET 2:		P O BOX HM 2458
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		4412960222

	MAIL ADDRESS:	
		STREET 1:		EVEREST CAPITAL LTD
		STREET 2:		65 FRONT ST 6TH FL
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>p477658_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-04-08</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000932110</issuerCik>
        <issuerName>KITTY HAWK INC</issuerName>
        <issuerTradingSymbol>KTHK</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000922216</rptOwnerCik>
            <rptOwnerName>EVEREST CAPITAL LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>THE BANK OF BUTTERFIELD BUILDING</rptOwnerStreet1>
            <rptOwnerStreet2>65 FRONT STREET, 6TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>HAMILTON HM JX</rptOwnerCity>
            <rptOwnerState>D0</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>BERMUDA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001224843</rptOwnerCik>
            <rptOwnerName>EVEREST CAPITAL MASTER FUND L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CITCO FUND SERVICES (BERMUDA) LTD</rptOwnerStreet1>
            <rptOwnerStreet2>WASHINGTON MALL WEST, 7 REID ST., 2ND FL</rptOwnerStreet2>
            <rptOwnerCity>HAMILTON HM 11</rptOwnerCity>
            <rptOwnerState>D0</rptOwnerState>
            <rptOwnerZipCode>00000</rptOwnerZipCode>
            <rptOwnerStateDescription>BERMUDA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock par value $0.01</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3318114</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by Everest Capital Master Fund, L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock par value $0.01</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>308448</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by Everest Capital Senior Debt Fund, L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrants</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.0001</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-04-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1829895</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.55</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-03-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-03-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock $0.01 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5010972</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3181077</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by Everest Capital Master Fund, L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrants</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.0001</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-04-08</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>170105</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.55</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2003-03-14</value>
            </exerciseDate>
            <expirationDate>
                <value>2013-03-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock $0.01 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>465815</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>295710</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>by Everest Capital Senior Debt Fund, L.P.</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each of the Reporting Person and the joint filer (each, a &quot;Reporting Person&quot; and collectively, the &quot;Reporting Persons&quot;) disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.  The Reporting Persons affirmatively disclaim being a &quot;group&quot; for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</footnote>
        <footnote id="F2">These securities are owned by Everest Capital Master Fund, L.P.  Everest Capital Limited is the general partner of Everest Capital Master Fund, L.P.</footnote>
        <footnote id="F3">These securities are owned by Everest Capital Senior Debt Fund, L.P.  Everest Capital Limited is the general partner of Everest Capital Senior Debt Fund, L.P.</footnote>
    </footnotes>

    <remarks>(+) Each of the Reporting Person and the joint filer (each, a &quot;Reporting Person&quot; and collectively, the &quot;Reporting Persons&quot;) disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.  The Reporting Persons affirmatively disclaim being a &quot;group&quot; for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</remarks>

    <ownerSignature>
        <signatureName>Everest Capital Limited (+), Reporting Person, By: /s/ Malcolm Stott, Chief Operating Officer</signatureName>
        <signatureDate>2004-04-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Everest Capital Master Fund, L.P., By: Everest Capital Limited (+), By: /s/ Malcolm Stott, Chief Operating Officer</signatureName>
        <signatureDate>2004-04-09</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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