8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  May 20, 2008

Kitty Hawk, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-32284	75-2564006
(State or other jurisdiction of incorporation)	(Commission File Number) File Number)	(IRS Employer Identification No.)
1515 West 20th Street
P.O. Box 612787
DFW International Airport,
Texas		75261
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (972) 456-2200

NOT APPLICABLE

 (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

As previously reported, on October 15, 2007, Kitty Hawk, Inc. (the “Company”) and all of its wholly-owned subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.  The Company also announced on November 14, 2007 that, during the pendency of the Company’s bankruptcy proceedings, it has adopted a modified reporting program with respect to its reporting obligations under the federal securities laws.  In lieu of filing annual reports on Form 10-K and quarterly reports on Form 10-Q, each month the Company will file with the Securities and Exchange Commission (the “SEC”) a current report on Form 8-K that will have attached to it the monthly financial reports required by the Bankruptcy Court.

On May 20, 2008, the Company submitted to the Bankruptcy Court its monthly financial reports for itself and all of its wholly-owned subsidiaries for the month ended April 30, 2008 (the “Monthly Reports”).  The Monthly Reports are filed as Exhibits 99.1 through 99.5 to this Form 8-K and are incorporated herein by this reference.

Cautionary Statement Regarding the Monthly Reports

The Monthly Reports contain financial statements and other financial information that have not been audited or reviewed by any independent public accounting firm and may be subject to future reconciliation or adjustments.  The Monthly Reports are in a format prescribed by applicable bankruptcy laws and should not be used for investment purposes.  The Monthly Reports may not be indicative of the Company’s financial condition or operating results.  Results set forth in the Monthly Reports should not be viewed as indicative of future results.

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 Exchange Act. 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. For a discussion of these and other risk factors, see the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. 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. 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 release to conform them to actual results.

2

Item 9.01 Financial Statements and Exhibits.

(d)Exhibits.

Exhibit Number	Description
Exhibit 99.1	Monthly Financial Report of Kitty Hawk, Inc. for Month Ending April 30, 2008
Exhibit 99.2	Monthly Financial Report of Kitty Hawk Ground, Inc. for Month Ending April 30, 2008
Exhibit 99.3	Monthly Financial Report of Kitty Hawk Cargo, Inc. for Month Ending April 30, 2008
Exhibit 99.4	Monthly Financial Report of Kitty Hawk Aircargo, Inc. for Month Ending April 30, 2008
Exhibit 99.5	Monthly Financial Report of KH Ground, Inc. for Month Ending April 30, 2008

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	KITTY HAWK, INC.
Date: May 21, 2008	By:	/s/ James R. Kupferschmid
	Name:		James R. Kupferschmid
	Title:		Senior Vice President

4

EX-99.1

Exhibit 99.1

Monthly Operating Report

CASE NAME:		Kitty Hawk, Inc.	ACCRUAL BASIS
				2008
CASE NUMBER:		07-44536
JUDGE:	Russell F. Nelms

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DIVISION 6

MONTHLY OPERATING REPORT

MONTH ENDING: APRIL 30, 2008

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/James R. Kupferschmid	Senior VP and Chief Restructing Officer
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY	TITLE
James R. Kupferschmid	May 20, 2008
PRINTED NAME OF RESPONSIBLE PARTY	DATE
PREPARER:
/s/ Jessica L. Wilson	VP and Chief Financial Officer
ORIGINAL SIGNATURE OF PREPARER	TITLE
Jessica L. Wilson	May 20, 2008
PRINTED NAME OF PREPARER	DATE

	Monthly Operating Report
CASE NAME:  Kitty Hawk, Inc.	ACCRUAL BASIS-1
		2008
CASE  NUMBER:   07-44536

COMPARATIVE  BALANCE  SHEET

		SCHEDULE		MONTH
		AMOUNT		April 2008			MONTH		MONTH
ASSETS
1.	UNRESTRICTED CASH	$	0	$	7,788,260
2.	RESTRICTED CASH	$	2,869,929	$	302,339
3.	TOTAL CASH	$	2,869,929	$	8,090,599		$	0	$	0
4.	ACCOUNTS RECEIVABLE (NET)			$	(936,674	)
5.	INVENTORY			$	0		$	0	$	0
6.	NOTES RECEIVABLE			$	0		$	0	$	0
7.	PREPAID EXPENSES			$	469,917
8.	OTHER (ATTACH LIST)	$	15,953	$	29,610,930
9.	TOTAL CURRENT ASSETS	$	2,885,882	$	37,234,772		$	0	$	0
10.	PROPERTY, PLANT & EQUIPMENT	$	1,425,325	$	2,128,842
11.	LESS: ACCUMULATED DEPRECIATION / DEPLETION	$	0	$	810,462
12.	NET PROPERTY, PLANT & EQUIPMENT	$	1,425,325	$	1,318,380		$	0	$	0
13.	DUE FROM INSIDERS	$	0	$	0		$	0
14.	OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)	$	0	$	3,486,848
15.	OTHER (ATTACH LIST)	$	1,109,030	$	0		$	0	$	0
16.	TOTAL ASSETS	$	5,420,237	$	42,040,000		$	0	$	0
POSTPETITION LIABILITIES
17.	ACCOUNTS PAYABLE			$	(10,077	)
18.	TAXES PAYABLE			$	0		$	0	$	0
19.	NOTES PAYABLE			$	0		$	0	$	0
20.	PROFESSIONAL FEES			$	1,418,992
21.	SECURED DEBT			$	0		$	0	$	0
22.	OTHER (ATTACH LIST)			$	(37,491	)
23.	TOTAL POSTPETITION LIABILITIES			$	1,371,424		$	0	$	0
PREPETITION LIABILITIES
24.	SECURED DEBT	$	15,602,760	$	153,110
25.	PRIORITY DEBT	$	56,297	$	0		$	0	$	0
26.	UNSECURED DEBT	$	1,010,347	$	589,557
27.	OTHER (ATTACH LIST)			$	0		$	0	$	0
28.	TOTAL PREPETITION LIABILITIES	$	16,669,404	$	742,667		$	0	$	0
29.	TOTAL LIABILITIES	$	16,669,404	$	2,114,091		$	0	$	0
EQUITY
30.	PREPETITION OWNERS’ EQUITY			$	41,090,061
31.	POSTPETITION CUMULATIVE PROFIT OR (LOSS)			$	(1,164,152	)
32.	DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)			$	0		$	0
33.	TOTAL EQUITY	$	0	$	39,925,909		$	0	$	0
34.	TOTAL LIABILITIES & OWNERS’ EQUITY	$	16,669,404	$	42,040,000		$	0	$	0

	Monthly Operating Report
CASE NAME:  Kitty Hawk, Inc.	ACCRUAL BASIS-2
		2008
CASE  NUMBER:   07-44536

INCOME STATEMENT

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
REVENUES
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	$	101,589						$	101,589
10.	SELLING & MARKETING	$	0		$	0	$	0	$	0
11.	GENERAL & ADMINISTRATIVE	$	182,041						$	182,041
12.	RENT & LEASE	$	10,025						$	10,025
13.	OTHER (ATTACH LIST)	$	(316,784	)					$	(316,784	)
14.	TOTAL OPERATING EXPENSES	$	(23,129	)	$	0	$	0	$	(23,129	)
15.	INCOME BEFORE NON-OPERATING INCOME & EXPENSE	$	23,129		$	0	$	0	$	23,129
OTHER INCOME & EXPENSES
16.	NON-OPERATING INCOME (ATT. LIST)	$	10,543						$	10,543
17.	NON-OPERATING EXPENSE (ATT. LIST)	$	0						$	0
18.	INTEREST EXPENSE	$	67						$	67
19.	DEPRECIATION / DEPLETION	$	12,680						$	12,680
20.	AMORTIZATION	$	0						$	0
21.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
22.	NET OTHER INCOME & EXPENSES	$	2,204		$	0	$	0	$	2,204
REORGANIZATION EXPENSES
23.	PROFESSIONAL FEES	$	194,200						$	194,200
24.	U.S. TRUSTEE FEES	$	0		$	0			$	0
25.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
26.	TOTAL REORGANIZATION EXPENSES	$	194,200		$	0	$	0	$	194,200
27.	INCOME TAX	$	0		$	0	$	0	$	0
28.	NET PROFIT (LOSS)	$	(173,275	)	$	0	$	0	$	(173,275	)

	Monthly Operating Report
CASE NAME:  Kitty Hawk, Inc.	ACCRUAL BASIS-3
		2008
CASE  NUMBER:   07-44536

		MONTH						QUARTER
		April 2008		MONTH		MONTH		TOTAL
CASH RECEIPTS AND DISBURSEMENTS
1.	CASH - BEGINNING OF MONTH	$	5,959,533					$	5,959,533
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
7.	SALE OF ASSETS	$	0	$	0	$	0	$	0
8.	OTHER (ATTACH LIST)	$	2,474,005					$	2,474,005
9.	TOTAL NON-OPERATING RECEIPTS	$	2,474,005	$	0	$	0	$	2,474,005
10.	TOTAL RECEIPTS	$	2,474,005	$	0	$	0	$	2,474,005
11.	TOTAL CASH AVAILABLE	$	8,433,538	$	0	$	0	$	8,433,538
OPERATING DISBURSEMENTS
12.	NET PAYROLL	$	113,626					$	113,626
13.	PAYROLL TAXES PAID	$	0					$	0
14.	SALES, USE & OTHER TAXES PAID	$	0	$	0	$	0	$	0
15.	SECURED / RENTAL / LEASES	$	49,873					$	49,873
16.	UTILITIES	$	6,575					$	6,575
17.	INSURANCE	$	216,471					$	216,471
18.	INVENTORY PURCHASES	$	0	$	0	$	0	$	0
19.	VEHICLE EXPENSES	$	0	$	0	$	0	$	0
20.	TRAVEL	$	0					$	0
21.	ENTERTAINMENT	$	0	$	0	$	0	$	0
22.	REPAIRS & MAINTENANCE	$	1,736					$	1,736
23.	SUPPLIES	$	0	$	0	$	0	$	0
24.	ADVERTISING	$	0	$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	177,765					$	177,765
26.	TOTAL OPERATING DISBURSEMENTS	$	566,046	$	0	$	0	$	566,046
REORGANIZATION EXPENSES
27.	PROFESSIONAL FEES	$	66,882	$	0	$	0	$	66,882
28.	U.S. TRUSTEE FEES	$	12,350	$	0	$	0	$	12,350
29.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
30.	TOTAL REORGANIZATION EXPENSES	$	79,232	$	0	$	0	$	79,232
31.	TOTAL DISBURSEMENTS	$	645,278	$	0	$	0	$	645,278
32.	NET CASH FLOW	$	1,828,727	$	0	$	0	$	1,828,727
33.	CASH - END OF MONTH	$	7,788,260	$	0	$	0	$	7,788,260

	Monthly Operating Report
CASE NAME:  Kitty Hawk, Inc.	ACCRUAL BASIS-4
		2008
CASE NUMBER: 07-44536

		SCHEDULE		MONTH
ACCOUNTS RECEIVABLE AGING		AMOUNT		April 2008			MONTH		MONTH
1.	0-30	$	0	$	0		$	0	$	0
2.	31-60	$	0	$	0		$	0	$	0
3.	61-90	$	0	$	0		$	0	$	0
4.	91+	$	0	$	0		$	0	$	0
5.	TOTAL ACCOUNTS RECEIVABLE	$	0	$	0		$	0	$	0
6.	AMOUNT CONSIDERED UNCOLLECTIBLE	$	0	$	936,674
7.	ACCOUNTS RECEIVABLE (NET)	$	0	$	(936,674	)	$	0	$	0

AGING OF POSTPETITION TAXES AND PAYABLES MONTH:  April 2008

		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	$	(18,284	)	$	0	$	401	$	7,806	$	(10,077	)

STATUS OF POSTPETITION TAXES MONTH:  April 2008

		BEGINNING		AMOUNT				ENDING
		TAX		WITHHELD AND/		AMOUNT		TAX
		LIABILITY*		OR ACCRUED		PAID		LIABILITY
FEDERAL
1.	WITHHOLDING**	$	0	$	0	$	0	$	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	$	0	$	0	$	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	$	0	$	0	$	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
		2008
CASE  NUMBER:   07-44536

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.

BANK RECONCILIATIONS MONTH:  April 2008

		Account #1		Account #2			Account #3			TOTAL
A.	BANK:	JP Morgan Chase		JP Morgan Chase			JP Morgan Chase
B.	ACCOUNT NUMBER:	100140334		9319959434			1570695922
C.	PURPOSE (TYPE):	Master Funding		Gen’l Disbursements			Payroll
1.	BALANCE PER BANK STATEMENT	$	150,000	$	0		$	0		$	150,000
2.	ADD: TOTAL DEPOSITS NOT CREDITED	$	0	$	0		$	0		$	0
3.	SUBTRACT: OUTSTANDING CHECKS	$	0	$	266,452		$	31,310		$	297,762
4.	OTHER RECONCILING ITEMS	$	9,911	$	0		$	0		$	9,911
5.	MONTH END BALANCE PER BOOKS	$	159,911	$	(266,452	)	$	(31,310	)	$	(137,851	)
6.	NUMBER OF LAST CHECK WRITTEN	No checks		110225			No checks

INVESTMENT ACCOUNTS

		DATE OF	TYPE OF	PURCHASE		CURRENT
BANK, ACCOUNT NAME & NUMBER		PURCHASE	INSTRUMENT	PRICE		VALUE
7.	JP Morgan Chase - Overnight Sweep -	4/30/2008	money market	$	7,925,911	$	7,925,911
8.
9.
10.
11.	TOTAL INVESTMENTS			$	7,925,911	$	7,925,911

CASH

12.	CURRENCY ON HAND	$	200
13.	TOTAL CASH - END OF MONTH	$	7,788,260

	Monthly Operating Report
CASE NAME:  Kitty Hawk, Inc.	ACCRUAL BASIS-6
		2008
CASE  NUMBER:   07-44536

	MONTH:	April 2008
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.	James R. Kupferschmid	Salary, Expense Reports	$	25,526	$	170,388
2.	Jessica L. Wilson	Salary, Expense Reports	$	15,321	$	105,941
3.	Brad Eagelston	Salary, Expense Reports	$	14,254	$	102,950
4.	David Rescino	Salary, Expense Reports	$	25,738	$	170,909
5.	Steven Markhoff	Salary, Expense Reports	$	0	$	18,333
6.	Mel Keating	Executive Committee Fee, Exp Reports, BOD Retainer	$	20,750	$	179,402
7.	TOTAL PAYMENTS TO INSIDERS		$	101,589	$	747,923

PROFESSIONALS
		DATE OF COURT							TOTAL
		ORDER AUTHORIZING	AMOUNT		AMOUNT		TOTAL PAID		INCURRED
NAME		PAYMENT	APPROVED		PAID		TO DATE		& UNPAID *
1.	Andrews Kurth LLP								$	1,054,435
2.	Otterbourg, Steindler, Houston & Rosen, P.C.								$	200,000
3.	Munsch Hardt Kopf & Harr, P.C.								$	74,761
4.	Morrison & Foerster								$	69,796
5.	BMC Group	Pmt allowed per application of employment	$	66,882	$	66,882	$	66,882	$	20,000
6.	TOTAL PAYMENTS TO PROFESSIONALS		$	66,882	$	66,882	$	66,882	$	1,418,992

*  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.	Laurus Master Fund, paid in full 12/07	Revolver				$	0
2.	Cananwill, pd in full 5/08	$	12,020	$	12,020	$	0
3.	Citicorp Vendor Finance, equipment returned 4/08	$	6,005	$	33,298	$	0
4.	DFW Airport - Facility rent, prepaid 5/08 in 4/08	$	37,295	$	18,380	$	0
5.
6.	TOTAL	$	55,320	$	63,698	$	0

	Monthly Operating Report
CASE NAME: Kitty Hawk, Inc.	ACCRUAL  BASIS-7
		2008
CASE  NUMBER:  07-44536

MONTH: April 2008

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.

# 1 - Misc equipment sold when locations closed i/a/w de minimis asset sale motion approved by the Court

#4 - - Payment made on insurance liabilities in accordance with first day orders.

#10 - due to operation shut down, DIP order did not allow payment of expenditures between 10/15 and 10/29 until DIP lender paid in

full; payments on post petition liabilties have resumed and will be paid i/a/w Plan of Reorganization

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
D&O Insurance	AIG	6/1/07 - 5/31/08	Paid in full
Aviation & Liability	Illinois National Insurance	7/1/07 - 6/30/08	Quarterly; $281,953 (original policy)
B737 Aviation Deductible	Illinois National Insurance	7/1/07 - 6/30/08	Paid in full
Property & Business Interruption	Affiliated FM Insurance	6/1/07 - 5/31/08	Paid in full
Employee Practices	RLI Insurance	6/1/07 - 5/31/08	Paid in full
Fidiciary Liability	RLI Insurance	6/1/07 - 5/31/08	Paid in full
Workers Compensation	Insurance Co of PA	6/1/07 - 5/31/08	Paid in full
D&O InsuranceSide A	Chubb	6/1/07 - 5/31/08	Paid in full
Environmental Impairment	Hudson Insurance	6/1/05 - 5/31/08	Paid in full

Footnotes Supplement

CASE NAME: Kitty Hawk, Inc.	ACCRUAL BASIS
		2008
CASE NUMBER: 07-44536

MONTH: April 2008

Accrual Basis	Line
Form Number	Number	Footnote/Explanation
1	10	The amount listed for fixed assets includes assets under capital leases. These assets have not been removed from the records pending the claims reconciliation process with the lessor; these assets are not available to be sold on behalf of the estate
3	8	All available cash received into each subsidiary cash account is transferred to Kitty Hawk, Inc.
3	13	Beginning April 1, 2008, due to the limited number of employees (8), the payroll system was no longer used and employees were paid through Accounts Payable. The amounts paid include the employer portion of all applicable payroll taxes and the employees are responsible for remitting the payroll taxes to the appropriate taxing authority.
3	31	All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. disbursement accounts
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 for Kitty Hawk Cargo, Inc. (Case #07-44538) and Kitty Hawk Aircargo, Inc. (Case #07-44539) are carried in the name of Kitty Hawk, Inc. Therefore, they are listed here accordingly.
6	Professional Fees	The fees noted on this schedule are initial estimates and are subject to change once final billings are prepared.
1	24	Secured Debt pre-petition includes $257,365 Laurus is holding after payment in full for the outstanding obligations on 12/7/07, pending their final receipt and reconciliation of professional fees they expended during the proceedings
1	17	Credit balance for Accounts Payable is caused by prepaying 5/08 DFW Rent in 4/08 and refunds due on health insurance policies

Case Name:	Kitty Hawk, Inc.
Case Number:	07-44536

Details of Other Items

	April 2008
ACCRUAL BASIS - 1
8. OTHER (ATTACH LIST)	29,610,930		Reported
Flex Spending deposit	17,283
A/R - 401(k) Loan	0
A/R - Accrued	(40	)
A/R - Other	179,044
A/R - Travel Advance	14,868
Deposits	43,368
Professional Fees Retainer	200,000
Intercompany Receivables	29,156,407
	29,610,930		Detail
	0		Difference
14. OTHER ASSETS - NET OF AMORTIZATION
ATTACH LIST	3,486,848		Reported
Laurus Loan Organization Costs	3,486,848
	3,486,848		Detail
	0		Difference
22. OTHER (ATTACH LIST)	(37,491	)	Reported
A/P Clearing	(3,953	)
General Accrued AP	0
Accrued Health Savings Plan	(33,538	)
AFLAC Deductions	0
Accrued 401(k)	0
	(37,491	)	Detail
	0		Difference
ACCRUAL BASIS - 2
13. OTHER (ATTACH LIST)	(316,784	)	Reported
G&A allocation to subsidiaries	(316,784	)
	(316,784	)	Detail
	0		Difference
16. NON-OPERATING INCOME (ATT. LIST)	10,543		Reported
Interest Income	10,243
Gain on Sale of assets	300
	10,543		Detail
	0		Difference
ACCRUAL BASIS - 3
8. OTHER (ATTACH LIST)	2,474,005		Reported
Transfers in from Kitty Hawk Cargo (Case 07-44538)	53,416
Transfers in from Kitty Hawk Ground (Case 07-44537)	83,216
Transfers in from Kitty Hawk Aircargo (Case 07-44539)	36,733
Transfers from Asset Sales Account (Case 07-44539)	0
Transfers to Asset Sales Account (Case 07-44539)	(17,300	)
Proceeds from Fort Wayne, IN Auction	2,182,368
Misc Refunds	128,948
Interest income	6,624
	2,474,005		Detail
	0		Difference
25. OTHER (ATTACH LIST)	177,765		Reported
401(k)	0
Aircraft landing and parking	0
Bank fees	3,041
BOD Fees	32,250
Contract labor	22,817
Communications	11,900
Employee expense reports	913
Executive committee fees	2,000
Flight crew expense	0
Freight handling	53,128
Fuel	0
Payroll processing fees	4,333
Non-reorganization professional fees	1,000
Security	0
Shipping	551
Subcharter	9,497
Trucking	24,913
Misc	7,972
Software support	3,450
Transfer to Kitty Hawk Aircargo (Case 07-44539)	0
	177,765		Detail
	0		Difference

EX-99.2

Exhibit 99.2

			Monthly Operating Report
CASE NAME:		Kitty Hawk Ground, Inc.	ACCRUAL BASIS
				2008
CASE NUMBER:		07-44537
JUDGE:	Russell F. Nelms

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DIVISION 6

MONTHLY  OPERATING  REPORT

MONTH  ENDING:  APRIL 30, 2008

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/James R. Kupferschmid	Senior VP and Chief Restructing Officer
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY	TITLE
James R. Kupferschmid	May 20, 2008
PRINTED NAME OF RESPONSIBLE PARTY	DATE
PREPARER:
/s/ Jessica L. Wilson	VP and Chief Financial Officer
ORIGINAL SIGNATURE OF PREPARER	TITLE
Jessica L. Wilson	May 20, 2008
PRINTED NAME OF PREPARER	DATE

	Monthly Operating Report
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS-1
		2008
CASE NUMBER: 07-44537

COMPARATIVE BALANCE SHEET

		SCHEDULE		MONTH
		AMOUNT		April 2008			MONTH		MONTH
ASSETS
1.	UNRESTRICTED CASH	$	106,914	$	37,854
2.	RESTRICTED CASH			$	0		$	0	$	0
3.	TOTAL CASH	$	106,914	$	37,854		$	0	$	0
4.	ACCOUNTS RECEIVABLE (NET)	$	7,763,152	$	413,558
5.	INVENTORY			$	0		$	0	$	0
6.	NOTES RECEIVABLE			$	0		$	0	$	0
7.	PREPAID EXPENSES			$	916,762
8.	OTHER (ATTACH LIST)	$	767,230	$	145,468
9.	TOTAL CURRENT ASSETS	$	8,637,296	$	1,513,642		$	0	$	0
10.	PROPERTY, PLANT & EQUIPMENT	$	1,146,152	$	590,499
11.	LESS: ACCUMULATED DEPRECIATION / DEPLETION	$	0	$	68,891
12.	NET PROPERTY, PLANT & EQUIPMENT	$	1,146,152	$	521,608		$	0	$	0
13.	DUE FROM INSIDERS	$	0	$	0		$	0	$	0
14.	OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)	$	0	$	0		$	0	$	0
15.	OTHER (ATTACH LIST)	$	603,884	$	0		$	0	$	0
16.	TOTAL ASSETS	$	10,387,332	$	2,035,250		$	0	$	0
POSTPETITION LIABILITIES
17.	ACCOUNTS PAYABLE			$	465,968
18.	TAXES PAYABLE			$	16,826
19.	NOTES PAYABLE			$	0		$	0	$	0
20.	PROFESSIONAL FEES			$	0		$	0	$	0
21.	SECURED DEBT			$	0		$	0	$	0
22.	OTHER (ATTACH LIST)			$	17,111,563
23.	TOTAL POSTPETITION LIABILITIES			$	17,594,357		$	0	$	0
PREPETITION LIABILITIES
24.	SECURED DEBT	$	17,206,526	$	1,064,069
25.	PRIORITY DEBT	$	277,316	$	0		$	0	$	0
26.	UNSECURED DEBT	$	7,503,343	$	7,696,004
27.	OTHER (ATTACH LIST)			$	0		$	0	$	0
28.	TOTAL PREPETITION LIABILITIES	$	24,987,185	$	8,760,073		$	0	$	0
29.	TOTAL LIABILITIES	$	24,987,185	$	26,354,430		$	0	$	0
EQUITY
30.	PREPETITION OWNERS’ EQUITY	0		$	(17,803,179	)
31.	POSTPETITION CUMULATIVE PROFIT OR (LOSS)			$	(6,516,001	)
32.	DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)			$	0		$	0	$	0
33.	TOTAL EQUITY	$	0	$	(24,319,180	)	$	0	$	0
34.	TOTAL LIABILITIES & OWNERS’ EQUITY	$	24,987,185	$	2,035,250		$	0	$	0

	Monthly Operating Report
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS-2
		2008
CASE NUMBER: 07-44537

INCOME STATEMENT

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
REVENUES
1.	GROSS REVENUES	$	(2,963	)					$	(2,963	)
2.	LESS: RETURNS & DISCOUNTS	$	0		$	0	$	0	$	0
3.	NET REVENUE	$	(2,963	)	$	0	$	0	$	(2,963	)
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	$	(2,963	)	$	0	$	0	$	(2,963	)
OPERATING EXPENSES
9.	OFFICER / INSIDER COMPENSATION	$	0						$	0
10.	SELLING & MARKETING	$	0		$	0	$	0	$	0
11.	GENERAL & ADMINISTRATIVE	$	89,910						$	89,910
12.	RENT & LEASE	$	(30,656	)					$	(30,656	)
13.	OTHER (ATTACH LIST)	$	(53,306	)					$	(53,306	)
14.	TOTAL OPERATING EXPENSES	$	5,948		$	0	$	0	$	5,948
15.	INCOME BEFORE NON-OPERATING INCOME & EXPENSE	$	(8,911	)	$	0	$	0	$	(8,911	)
OTHER INCOME & EXPENSES
16.	NON-OPERATING INCOME (ATT. LIST)	$	55,173						$	55,173
17.	NON-OPERATING EXPENSE (ATT. LIST)	$	1,460						$	1,460
18.	INTEREST EXPENSE	$	0						$	0
19.	DEPRECIATION / DEPLETION	$	0						$	0
20.	AMORTIZATION	$	0						$	0
21.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
22.	NET OTHER INCOME & EXPENSES	$	(53,713	)	$	0	$	0	$	(53,713	)
REORGANIZATION EXPENSES
23.	PROFESSIONAL FEES	$	0		$	0	$	0	$	0
24.	U.S. TRUSTEE FEES	$	0		$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
26.	TOTAL REORGANIZATION EXPENSES	$	0		$	0	$	0	$	0
27.	INCOME TAX	$	0		$	0	$	0	$	0
28.	NET PROFIT (LOSS)	$	44,802		$	0	$	0	$	44,802

	Monthly Operating Report
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS-3
		2008
CASE NUMBER: 07-44537

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
CASH RECEIPTS AND DISBURSEMENTS
1.	CASH - BEGINNING OF MONTH	$	53,024						$	53,024
RECEIPTS FROM OPERATIONS
2.	CASH SALES	$	0		$	0	$	0	$	0
COLLECTION OF ACCOUNTS RECEIVABLE
3.	PREPETITION	$	68,046						$	68,046
4.	POSTPETITION	$	0		$	0	$	0	$	0
5.	TOTAL OPERATING RECEIPTS	$	68,046		$	0	$	0	$	68,046
NON - OPERATING RECEIPTS
6.	LOANS & ADVANCES (ATTACH LIST)	$	0		$	0	$	0	$	0
7.	SALE OF ASSETS	$	0		$	0	$	0	$	0
8.	OTHER (ATTACH LIST)	$	(83,216	)					$	(83,216	)
9.	TOTAL NON-OPERATING RECEIPTS	$	(83,216	)	$	0	$	0	$	(83,216	)
10.	TOTAL RECEIPTS	$	(15,170	)	$	0	$	0	$	(15,170	)
11.	TOTAL CASH AVAILABLE	$	37,854		$	0	$	0	$	37,854
OPERATING DISBURSEMENTS
12.	NET PAYROLL	$	0		$	0	$	0	$	0
13.	PAYROLL TAXES PAID	$	0		$	0	$	0	$	0
14.	SALES, USE & OTHER TAXES PAID	$	0		$	0	$	0	$	0
15.	SECURED / RENTAL / LEASES	$	0		$	0	$	0	$	0
16.	UTILITIES	$	0		$	0	$	0	$	0
17.	INSURANCE	$	0		$	0	$	0	$	0
18.	INVENTORY PURCHASES	$	0		$	0	$	0	$	0
19.	VEHICLE EXPENSES	$	0		$	0	$	0	$	0
20.	TRAVEL	$	0		$	0	$	0	$	0
21.	ENTERTAINMENT	$	0		$	0	$	0	$	0
22.	REPAIRS & MAINTENANCE	$	0		$	0	$	0	$	0
23.	SUPPLIES	$	0		$	0	$	0	$	0
24.	ADVERTISING	$	0		$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
26.	TOTAL OPERATING DISBURSEMENTS	$	0		$	0	$	0	$	0
REORGANIZATION EXPENSES
27.	PROFESSIONAL FEES	$	0		$	0	$	0	$	0
28.	U.S. TRUSTEE FEES	$	0		$	0	$	0	$	0
29.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
30.	TOTAL REORGANIZATION EXPENSES	$	0		$	0	$	0	$	0
31.	TOTAL DISBURSEMENTS	$	0		$	0	$	0	$	0
32.	NET CASH FLOW	$	(15,170	)	$	0	$	0	$	(15,170	)
33.	CASH - END OF MONTH	$	37,854		$	0	$	0	$	37,854

	Monthly Operating Report
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS-4
		2008
CASE NUMBER: 07-44537

		SCHEDULE		MONTH			MONTH		MONTH
ACCOUNTS RECEIVABLE AGING		AMOUNT		April 2008			0		0
1.	0-30			$	(17,669	)
2.	31-60			$	20,812
3.	61-90			$	32,118
4.	91+			$	413,713
5.	TOTAL ACCOUNTS RECEIVABLE	$	7,763,152	$	448,974		$	0	$	0
6.	AMOUNT CONSIDERED UNCOLLECTIBLE	$	0	$	0
7.	ACCOUNTS RECEIVABLE (NET)	$	7,763,152	$	448,974		$	0	$	0

AGING OF POSTPETITION TAXES AND PAYABLES MONTH:   April 2008

		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	$	16,826	$	16,826
5.	TOTAL TAXES PAYABLE	$	0		$	0	$	0	$	16,826	$	16,826
6.	ACCOUNTS PAYABLE	$	(10,045	)	$	280	$	8,442	$	467,291	$	465,968

STATUS OF POSTPETITION TAXES MONTH:   April 2008

		BEGINNING		AMOUNT				ENDING
		TAX		WITHHELD AND/		AMOUNT		TAX
		LIABILITY*		OR ACCRUED		PAID		LIABILITY
FEDERAL
1.	WITHHOLDING**	$	0	$	0	$	0	$	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	$	0	$	0	$	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	$	0	$	0	$	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 Ground Inc.	ACCRUAL BASIS-5
		2008
CASE NUMBER: 07-44537

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.

BANK RECONCILIATIONS MONTH:   April 2008

		Account #1			Account #2		Account #3		TOTAL
A.	BANK:	Capital One			N/A		N/A
B.	ACCOUNT NUMBER:	3620477825
C.	PURPOSE (TYPE):	Depository
1.	BALANCE PER BANK STATEMENT	$	37,967						$	37,967
2.	ADD: TOTAL DEPOSITS NOT CREDITED	$	0						$	0
3.	SUBTRACT: OUTSTANDING CHECKS	$	0						$	0
4.	OTHER RECONCILING ITEMS	$	(113	)					$	(113	)
5.	MONTH END BALANCE PER BOOKS	$	37,854		$	0	$	0	$	37,854
6.	NUMBER OF LAST CHECK WRITTEN	None

INVESTMENT ACCOUNTS

		DATE OF	TYPE OF	PURCHASE		CURRENT
BANK, ACCOUNT NAME & NUMBER		PURCHASE	INSTRUMENT	PRICE		VALUE
7.	N/A
8.
9.
10.
11.	TOTAL INVESTMENTS			$	0	$	0

CASH

12.	CURRENCY ON HAND	$	0
13.	TOTAL CASH - END OF MONTH	$	37,854

	Monthly Operating Report
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS-6
		2008
CASE NUMBER:  07-44537

MONTH:   April 2008

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.	Gary Jensen	Salary, Expense Reports	$	0	$	34,027
2.	Mark Lasky	Salary, Expense Reports	$	0	$	12,078
3.	Dan Yongue	Salary, Expense Reports	$	0	$	25,292
4.
5.
6.	TOTAL PAYMENTS
	TO INSIDERS		$	0	$	71,397

PROFESSIONALS

		DATE OF COURT							TOTAL
		ORDER AUTHORIZING	AMOUNT		AMOUNT		TOTAL PAID		INCURRED
NAME		PAYMENT	APPROVED		PAID		TO DATE		& UNPAID *
1.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO PROFESSIONALS		$	0	$	0	$	0	$	0

* 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.	AICCO, cancelled during 12/07	$	106,001	$	0	$	212,002
2.	Crown Credit, cancelled during 12/07	$	12,474	$	0	$	24,948
3.	Other Facility leases cancelled 11/07
4.
5.
6.	TOTAL	$	118,475	$	0	$	236,950

	Monthly Operating Report
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS-7
		2008
CASE NUMBER:  07-44537

MONTH:   April 2008

QUESTIONNAIRE

		YES	NO
1.	HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDETHE 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.

1 - - Vehicles sold pursuant to court order or i/a/w de minimis asset sale motion approved by the Court
7, 8, 10 - due to operation shut down, DIP order did not allow payment of expenditures between 10/15 and 10/29 until DIP lender paid in full; payments on post petition liabilties have resumed and will be paid i/a/w Plan of Reorganization

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.

See summary of policies below for status.

INSTALLMENT PAYMENTS

TYPE OF				PAYMENT AMOUNT
POLICY	CARRIER	PERIOD COVERED		& FREQUENCY
Cargo Liability	The Hanover Insurance Group	6/1/07 - 5/31/08		$49,538.50 Annual - paid in full
General Liability	Chubb	6/1/07 - 5/31/08		$45,004 Annual - paid in full
Commerical Umbrella	Lexington	6/1/07 - 5/31/08	cancelled	$48,684.11, monthly financed
Auto Physical Damage	Lloyd’s of London	6/1/07 - 5/31/08		$14,000 (est), monthly
Workers Compensation	American Home Assurance	6/1/07 - 5/31/08	cancelled	$57,316.96, monthly financed
Business Auto	American Home Assurance	6/1/07 - 5/31/08		$42,259 Annual - paid in full
Trucker Liability	American Home Assurance	6/1/07 - 5/31/08	cancelled	$63,829, monthly

	Footnotes Supplement
CASE NAME: Kitty Hawk Ground Inc.	ACCRUAL BASIS
		2008
CASE NUMBER:  07-44537

MONTH: April 2008

Accrual Basis	Line
Form Number	Number	Footnote/Explanation
1	10	The amount listed for fixed assets includes assets under capital leases. These assets have not been removed from the records pending the claims reconciliation process with the lessor; these assets are not available to be sold on behalf of the estate
3	8	All available cash received into each subsidiary cash account is transferred to Kitty Hawk, Inc. (Case #07-44536)
3	31	All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. disbursement accounts (Case #07-44536)
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. (Case #07-44536)
6	Secured Notes	AICCO finance agreement was cancelled when underlying insurance policies were cancelled; pending Stipulation with Court; Crown Credit - all forklifts were returned mid November 2007
3	15	Cash receipts collected was automatically transferred to Laurus Master Fund to paydown revolver until paid in full on 12/07; afterwards, cash receipts tranferred directly to Kitty Hawk, Inc. (Case #07-44536)
4	AR - 7	Total Accounts Receivable does not agree to Accrual Basis - 1, line 4 due to Unapplied cash at the end of the reporting cycle, not included on the AR aging, $37,143 and Accrued AR, $1,727
4	Payroll Taxes	There were no employees for Kitty Hawk Ground, Inc. during this reporting period, therefore, there are no payroll tax liabilities or payments reported.

Case Name:	Kitty Hawk Ground, Inc.
Case Number:	07-44537

Details of Other Items

	April 2008
ACCRUAL BASIS - 1
8. OTHER (ATTACH LIST)	145,468		Reported
A/R - Clearing	3,187
A/R - 401(k)	(119	)
A/R - Owner/Operator	(3,962	)
A/R - Employees	3,488
A/R - Payroll Advance	101
A/R - Other	0
Deposits	142,773
	145,468		Detail
	0		Difference
22. OTHER (ATTACH LIST)	17,111,563		Reported
General Accrued AP	285,451
Intercompany Payables	16,829,720
A/P - Clearing	0
A/P - Other - Oldco ACT	(3,169	)
Accrued 401(k) contribution	(439	)
	17,111,563		Detail
	0		Difference
ACCRUAL BASIS - 2
13. OTHER OPERATING EXPENSE	(53,306	)	Reported
Trucking expense	(52,616	)
Driver Wages	5,575
Fuel	0
Truck Maintenance	0
Freight Handling Contract Costs	(1,261	)
Equipment Lease	0
Other support	(5,004	)
	(53,306	)	Detail
	0		Difference
16. NON-OPERATING INCOME (ATT. LIST)	55,173		Reported
Gain on sale of assets	20,150
Interest income	35,023
	55,173		Detail
	0		Difference
17. NON-OPERATING EXPENSE (ATT. LIST)	1,460		Reported
Lease rejection accrual	1,460
Net Loss on Disposal of Assets	0
	1,460		Detail
	0		Difference
ACCRUAL BASIS - 3
8. OTHER (ATTACH LIST)	(83,216	)	Reported
Transfer to Kitty Hawk, Inc. (Case 07-44536)	(83,216	)
	(83,216	)	Detail
	0		Difference
ACCRUAL BASIS - 4
Aging of Post-petition Taxes	16,826		Reported
Accrued franchise taxes	960
O/O Fuel Tax	35
Fuel Tax	15,831
	16,826		Detail
	0		Difference

EX-99.3

Exhibit 99.3

	Monthly Operating Report
CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS
	2008
CASE  NUMBER:  07-44538
JUDGE:  Russell F. Nelms

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DIVISION 6

MONTHLY  OPERATING  REPORT

MONTH  ENDING:   APRIL 30, 2008

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/James R. Kupferschmid	Senior VP and Chief Restructing Officer
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY	TITLE
James R. Kupferschmid	May 20, 2008
PRINTED NAME OF RESPONSIBLE PARTY	DATE
PREPARER:
/s/ Jessica L. Wilson	VP and Chief Financial Officer
ORIGINAL SIGNATURE OF PREPARER	TITLE
Jessica L. Wilson	May 20, 2008
PRINTED NAME OF PREPARER	DATE

Monthly Operating Report

CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS-1
	2008
CASE NUMBER:  07-44538

COMPARATIVE  BALANCE  SHEET

		SCHEDULE		MONTH
		AMOUNT		April 2008			MONTH		MONTH
ASSETS
1.	UNRESTRICTED CASH	$	901,444	$	9,171
2.	RESTRICTED CASH			$	0		$	0	$	0
3.	TOTAL CASH	$	901,444	$	9,171		$	0	$	0
4.	ACCOUNTS RECEIVABLE (NET)	$	14,522,323	$	(116,775	)
5.	INVENTORY			$	0
6.	NOTES RECEIVABLE			$	0
7.	PREPAID EXPENSES			$	334
8.	OTHER (ATTACH LIST)	$	129,586	$	72,914
9.	TOTAL CURRENT ASSETS	$	15,553,353	$	(34,356	)	$	0	$	0
10.	PROPERTY, PLANT  & EQUIPMENT	$	511,103	$	155,567
11.	LESS: ACCUMULATED DEPRECIATION / DEPLETION	$	0	$	52,297
12.	NET PROPERTY, PLANT  & EQUIPMENT	$	511,103	$	103,270		$	0	$	0
13.	DUE FROM INSIDERS	$	0	$	0		$	0	$	0
14.	OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)	$	0	$	0		$	0	$	0
15.	OTHER (ATTACH LIST)	$	150,000	$	0		$	0	$	0
16.	TOTAL ASSETS	$	16,214,456	$	68,914		$	0	$	0
POSTPETITION LIABILITIES
17.	ACCOUNTS PAYABLE			$	188,615
18.	TAXES PAYABLE			$	71,088
19.	NOTES PAYABLE			$	0		$	0	$	0
20.	PROFESSIONAL FEES			$	0		$	0	$	0
21.	SECURED DEBT			$	0		$	0	$	0
22.	OTHER (ATTACH LIST)			$	19,372,064
23.	TOTAL POSTPETITION LIABILITIES			$	19,631,767		$	0	$	0
PREPETITION LIABILITIES
24.	SECURED DEBT	$	16,684,744	$	136,918
25.	PRIORITY DEBT	$	223,906	$	0
26.	UNSECURED DEBT	$	3,562,306	$	3,798,977
27.	OTHER (ATTACH LIST)			$	0		$	0	$	0
28.	TOTAL PREPETITION LIABILITIES	$	20,470,956	$	3,935,895		$	0	$	0
29.	TOTAL LIABILITIES	$	20,470,956	$	23,567,662		$	0	$	0
EQUITY
30.	PREPETITION OWNERS’ EQUITY			$	(23,236,677	)
31.	POSTPETITION CUMULATIVE PROFIT OR (LOSS)			$	(262,071	)
32.	DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)			$	0		$	0	$	0
33.	TOTAL EQUITY	$	0	$	(23,498,748	)	$	0	$	0
34.	TOTAL LIABILITIES  & OWNERS’ EQUITY	$	20,470,956	$	68,914		$	0	$	0

	Monthly Operating Report
CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS-2
	2008
CASE  NUMBER:   07-44538

INCOME STATEMENT

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
REVENUES
1.	GROSS REVENUES	$	(4,606	)	$	0	$	0	$	(4,606	)
2.	LESS: RETURNS & DISCOUNTS	$	0		$	0	$	0	$	0
3.	NET REVENUE	$	(4,606	)	$	0	$	0	$	(4,606	)
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	$	(4,606	)	$	0	$	0	$	(4,606	)
OPERATING EXPENSES
9.	OFFICER / INSIDER COMPENSATION	$	0		$	0	$	0	$	0
10.	SELLING  & MARKETING	$	0		$	0	$	0	$	0
11.	GENERAL & ADMINISTRATIVE	$	(429	)	$	0	$	0	$	(429	)
12.	RENT  & LEASE	$	0		$	0	$	0	$	0
13.	OTHER (ATTACH LIST)	$	(5,915	)	$	0	$	0	$	(5,915	)
14.	TOTAL OPERATING EXPENSES	$	(6,344	)	$	0	$	0	$	(6,344	)
15.	INCOME BEFORE NON-OPERATING INCOME & EXPENSE	$	1,738		$	0	$	0	$	1,738
OTHER INCOME  & EXPENSES
16.	NON-OPERATING INCOME (ATT. LIST)	$	0		$	0	$	0	$	0
17.	NON-OPERATING EXPENSE (ATT. LIST)	$	0		$	0	$	0	$	0
18.	INTEREST EXPENSE	$	0		$	0	$	0	$	0
19.	DEPRECIATION / DEPLETION	$	0		$	0	$	0	$	0
20.	AMORTIZATION	$	0		$	0	$	0	$	0
21.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
22.	NET OTHER INCOME & EXPENSES	$	0		$	0	$	0	$	0
REORGANIZATION EXPENSES
23.	PROFESSIONAL FEES	$	0		$	0	$	0	$	0
24.	U.S. TRUSTEE FEES	$	0		$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
26.	TOTAL REORGANIZATION EXPENSES	$	0		$	0	$	0	$	0
27.	INCOME TAX	$	0		$	0	$	0	$	0
28.	NET PROFIT (LOSS)	$	1,738		$	0	$	0	$	1,738

Monthly Operating Report

CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS-3
	2008
CASE  NUMBER:   07-44538

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
CASH RECEIPTS AND DISBURSEMENTS
1.	CASH - BEGINNING OF MONTH	$	37,931						$	37,931
RECEIPTS FROM OPERATIONS
2.	CASH SALES	$	0		$	0	$	0	$	0
COLLECTION OF ACCOUNTS RECEIVABLE
3.	PREPETITION	$	27,771		$	0	$	0	$	27,771
4.	POSTPETITION	$	0		$	0	$	0	$	0
5.	TOTAL OPERATING RECEIPTS	$	27,771		$	0	$	0	$	27,771
NON - OPERATING RECEIPTS
6.	LOANS  & ADVANCES (ATTACH LIST)	$	0		$	0	$	0	$	0
7.	SALE OF ASSETS	$	0		$	0	$	0	$	0
8.	OTHER (ATTACH LIST)	$	(53,415	)	$	0	$	0	$	(53,415	)
9.	TOTAL NON-OPERATING RECEIPTS	$	(53,415	)	$	0	$	0	$	(53,415	)
10.	TOTAL RECEIPTS	$	(25,644	)	$	0	$	0	$	(25,644	)
11.	TOTAL CASH AVAILABLE	$	12,287		$	0	$	0	$	12,287
OPERATING DISBURSEMENTS
12.	NET PAYROLL	$	0		$	0	$	0	$	0
13.	PAYROLL TAXES PAID	$	0		$	0	$	0	$	0
14.	SALES, USE  & OTHER TAXES PAID	$	0		$	0	$	0	$	0
15.	SECURED / RENTAL / LEASES	$	0		$	0	$	0	$	0
16.	UTILITIES	$	0		$	0	$	0	$	0
17.	INSURANCE	$	0		$	0	$	0	$	0
18.	INVENTORY PURCHASES	$	0		$	0	$	0	$	0
19.	VEHICLE EXPENSES	$	0		$	0	$	0	$	0
20.	TRAVEL	$	0		$	0	$	0	$	0
21.	ENTERTAINMENT	$	0		$	0	$	0	$	0
22.	REPAIRS  & MAINTENANCE	$	0		$	0	$	0	$	0
23.	SUPPLIES	$	0		$	0	$	0	$	0
24.	ADVERTISING	$	0		$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	3,116		$	0	$	0	$	3,116
26.	TOTAL OPERATING DISBURSEMENTS	$	3,116		$	0	$	0	$	3,116
REORGANIZATION EXPENSES
27.	PROFESSIONAL FEES	$	0		$	0	$	0	$	0
28.	U.S. TRUSTEE FEES	$	0		$	0	$	0	$	0
29.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
30.	TOTAL REORGANIZATION EXPENSES	$	0		$	0	$	0	$	0
31.	TOTAL DISBURSEMENTS	$	3,116		$	0	$	0	$	3,116
32.	NET CASH FLOW	$	(28,760	)	$	0	$	0	$	(28,760	)
33.	CASH - END OF MONTH	$	9,171		$	0	$	0	$	9,171

Monthly Operating Report

CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS-4
	2008
CASE  NUMBER:   07-44538

		SCHEDULE		MONTH			MONTH		MONTH
ACCOUNTS RECEIVABLE AGING		AMOUNT		April 2008			0		0
1.	0-30			$	(5,830	)
2.	31-60			$	(2,325	)
3.	61-90			$	(1,021	)
4.	91+			$	(107,795	)
5.	TOTAL ACCOUNTS RECEIVABLE	$	14,522,323	$	(116,971	)	$	0	$	0
6.	AMOUNT CONSIDERED UNCOLLECTIBLE			$	0
7.	ACCOUNTS RECEIVABLE (NET)	$	14,522,323	$	(116,971	)	$	0	$	0

AGING OF POSTPETITION TAXES AND PAYABLES MONTH: April 2008

		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)	$	71,088		$	0	$	0	$	0	$	71,088
5.	TOTAL TAXES PAYABLE	$	71,088		$	0	$	0	$	0	$	71,088
6.	ACCOUNTS PAYABLE	$	(21,508	)	$	46	$	849	$	209,228	$	188,615

STATUS  OF  POSTPETITION  TAXES MONTH: April 2008

		BEGINNING		AMOUNT				ENDING
		TAX		WITHHELD AND/		AMOUNT		TAX
		LIABILITY*		OR ACCRUED		PAID		LIABILITY
FEDERAL
1.	WITHHOLDING**	$	0	$	0	$	0	$	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	$	0	$	0	$	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	$	0	$	0	$	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 Cargo, Inc.	ACCRUAL BASIS-5
	2008
CASE  NUMBER:   07-44538

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.

BANK  RECONCILIATIONS MONTH: April 2008

		Account #1		Account #2		Account #3		TOTAL
A.	BANK:	Capital One		N/A		N/A
B.	ACCOUNT NUMBER:	3620477841
C.	PURPOSE (TYPE):	Depository
1.	BALANCE PER BANK STATEMENT	$	7,964					$	7,964
2.	ADD: TOTAL DEPOSITS NOT CREDITED	$	0					$	0
3.	SUBTRACT: OUTSTANDING CHECKS	$	0					$	0
4.	OTHER RECONCILING ITEMS	$	1,207					$	1,207
5.	MONTH END BALANCE PER BOOKS	$	9,171	$	0	$	0	$	9,171
6.	NUMBER OF LAST CHECK WRITTEN	None

INVESTMENT ACCOUNTS

		DATE OF	TYPE OF	PURCHASE		CURRENT
BANK, ACCOUNT NAME & NUMBER		PURCHASE	INSTRUMENT	PRICE		VALUE
7.	N/A
8.
9.
10.
11.	TOTAL INVESTMENTS			$	0	$	0
CASH
12.	CURRENCY ON HAND					$	0
13.	TOTAL CASH – END OF MONTH					$	9,171

Monthly Operating Report

CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS-6
	2008
CASE  NUMBER:   07-44538

	MONTH:	April 2008
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.	Gregg Saylor	Salary, Expense Reports	$	0	$	9,231
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO INSIDERS		$	0	$	9,231

PROFESSIONALS

		DATE OF COURT							TOTAL
		ORDER AUTHORIZING	AMOUNT		AMOUNT		TOTAL PAID		INCURRED
NAME		PAYMENT	APPROVED		PAID		TO DATE		& UNPAID *
1.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO PROFESSIONALS		$	0	$	0	$	0	$	0

*  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.	Crown Credit (4 leases), lease cancelled 11/07	$	1,434	$	0	$	2,868
2.	Duxbury Capital, lease cancelled 11/07	$	669	$	0	$	1,338
3.	Coactive Capital, prepaid 1/08 in 12/07	$	1,048	$	0	$	0
4.	US Bank, cancelled 1/08	$	168,775	$	0	$	0
5.	Other facility leases cancelled 11/07
6.	TOTAL	$	171,926	$	0	$	4,206

Monthly Operating Report

CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS-7
	2008
CASE  NUMBER:   07-44538

MONTH: April 2008

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.

8, 10 - due to operation shut down, DIP order did not allow payment of expenditures between 10/15 and 10/29 until DIP lender paid in full; payments on post petition liabilties have resumed and will be paid i/a/w Plan of Reorganization

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
See Case #07-44536, Kitty Hawk, Inc.

Footnotes Supplement

CASE NAME:  Kitty Hawk Cargo, Inc.	ACCRUAL BASIS
	2008
CASE  NUMBER:   07-44538

MONTH: April 2008

Accrual Basis	Line
Form Number	Number	Footnote/Explanation
1	10	The amount listed for fixed assets includes assets under capital leases. These assets have not been removed from the records pending the claims reconciliation process with the lessor; these assets are not available to be sold on behalf of the estate
3	8	All available cash received into each subsidiary cash account is transferred to Kitty Hawk, Inc. (Case #07-44536)
3	31	All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. disbursement accounts (Case #07-44536)
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. (Case #07-44536)
7		All insurance policies for Kitty Hawk Cargo, Inc. are carried in the name of Kitty Hawk, Inc. (Case #07-44536)
3	15	Cash receipts collected was automatically transferred to Laurus Master Fund to paydown revolver until paid in full on 12/07; afterwards, cash receipts tranferred directly to Kitty Hawk, Inc. (Case #07-44536)
4	AR - 7	Total Accounts Receivable does not agree to Accrual Basis - 1, line 4 due to misc reconciling item of $196.
4	Payroll Taxes	There were no employees for Kitty Hawk Cargo, Inc. during this reporting period, therefore, there are no payroll tax liabilities or payments reported.

Case Name:	Kitty Hawk Cargo, Inc.
Case Number:	07-44538

Details of Other Items

	April 2008
ACCRUAL BASIS - 1
8. OTHER (ATTACH LIST)	72,914		Reported
A/R Employees	988
A/R Other	59,360
Deposits	12,794
A/R - 401(k) loan	(228	)
	72,914		Detail
	0		Difference
22. OTHER (ATTACH LIST)	19,372,064		Reported
Intercompany Payables	19,322,184
Accrued Wages	0
Accrued 401(k)	2,340
General Accrued AP	47,540
	19,372,064		Detail
	0		Difference
ACCRUAL BASIS - 2
13. OTHER OPERATING EXPENSE	(5,915	)	Reported
Chartered Airline Expense	0
Allocation from Aircargo	132,632
Aircraft Ground Operations	(113,310	)
Freight Handling Contractors
Third party support	(25,237	)
	(5,915	)	Detail
	0		Difference
ACCRUAL BASIS - 3
8. OTHER (ATTACH LIST)	(53,415	)	Reported
Transfer to Inc (#07-44536)	(53,415	)
	(53,415	)	Detail
	0		Difference
25. OTHER (ATTACH LIST)	3,116		Reported
Bank Charges	3,116
	3,116		Detail
	0		Difference
ACCRUAL BASIS - 4
Aging of Post-petition Taxes	71,088		Reported
Accrued franchise tax	2,877
Accrued property tax	65,484
Federal Excise Tax	2,727
	71,088		Detail
	0		Difference

EX-99.4

Exhibit 99.4

Monthly Operating Report

CASE NAME:		Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS
				2008
CASE NUMBER:		07-44539
JUDGE:	Russell F. Nelms

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DIVISION 6

MONTHLY  OPERATING  REPORT

MONTH  ENDING: APRIL 30, 2008

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/James R. Kupferschmid	Senior VP and Chief Restructing Officer
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY	TITLE
James R. Kupferschmid	May 20, 2008
PRINTED NAME OF RESPONSIBLE PARTY	DATE
PREPARER:
/s/ Jessica L. Wilson	VP and Chief Financial Officer
ORIGINAL SIGNATURE OF PREPARER	TITLE
Jessica L. Wilson	May 20, 2008
PRINTED NAME OF PREPARER	DATE

		Monthly Operating Report
CASE NAME:  Kitty Hawk Aircargo, Inc.		ACCRUAL BASIS-1
	2008
CASE  NUMBER:   07-44539

COMPARATIVE BALANCE SHEET

		SCHEDULE		MONTH
		AMOUNT		April 2008			MONTH		MONTH
ASSETS
1.	UNRESTRICTED CASH	$	2,913	$	472,092
2.	RESTRICTED CASH			$	0		$	0	$	0
3.	TOTAL CASH	$	2,913	$	472,092		$	0	$	0
4.	ACCOUNTS RECEIVABLE (NET)	$	428,572	$	267,452
5.	INVENTORY	$	1,807,835	$	216,535
6.	NOTES RECEIVABLE	$	0	$	0
7.	PREPAID EXPENSES	$	538,000	$	399,821
8.	OTHER (ATTACH LIST)	$	2,114,882	$	238,351
9.	TOTAL CURRENT ASSETS	$	4,892,202	$	1,594,251		$	0	$	0
10.	PROPERTY, PLANT  & EQUIPMENT	$	359,058	$	0
11.	LESS: ACCUMULATED DEPRECIATION / DEPLETION	$	0	$	0
12.	NET PROPERTY, PLANT  & EQUIPMENT	$	359,058	$	0		$	0	$	0
13.	DUE FROM INSIDERS	$	0	$	0		$	0	$	0
14.	OTHER ASSETS – NET OF AMORTIZATION (ATTACH LIST)	$	0	$	0		$	0	$	0
15.	OTHER (ATTACH LIST)	$	0	$	6,995,873
16.	TOTAL ASSETS	$	5,251,260	$	8,590,124		$	0	$	0
POSTPETITION LIABILITIES
17.	ACCOUNTS PAYABLE			$	858,107
18.	TAXES PAYABLE			$	165,257
19.	NOTES PAYABLE			$	0		$	0	$	0
20.	PROFESSIONAL FEES			$	0		$	0	$	0
21.	SECURED DEBT			$	0		$	0	$	0
22.	OTHER (ATTACH LIST)			$	833,653
23.	TOTAL POSTPETITION LIABILITIES			$	1,857,017		$	0	$	0
PREPETITION LIABILITIES
24.	SECURED DEBT	$	16,684,744	$	0		$	0	$	0
25.	PRIORITY DEBT	$	810,299	$	0		$	0	$	0
26.	UNSECURED DEBT	$	4,675,404	$	4,350,594
27.	OTHER (ATTACH LIST)			$	0		$	0	$	0
28.	TOTAL PREPETITION LIABILITIES	$	22,170,447	$	4,350,594		$	0	$	0
29.	TOTAL LIABILITIES	$	22,170,447	$	6,207,611		$	0	$	0
EQUITY
30.	PREPETITION OWNERS’ EQUITY			$	3,848,021
31.	POSTPETITION CUMULATIVE PROFIT OR (LOSS)			$	(1,465,508	)
32.	DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)			$	0		$	0	$	0
33.	TOTAL EQUITY	$	0	$	2,382,513		$	0	$	0
34.	TOTAL LIABILITIES  & OWNERS’ EQUITY	$	22,170,447	$	8,590,124		$	0	$	0

	Monthly Operating Report
CASE NAME:  Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS-2
	2008
CASE  NUMBER:   07-44539

INCOME STATEMENT

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
REVENUES
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	$	3,589		$	0	$	0	$	3,589
10.	SELLING  & MARKETING	$	0		$	0	$	0	$	0
11.	GENERAL & ADMINISTRATIVE	$	190,466		$	0	$	0	$	190,466
12.	RENT  & LEASE	$	198		$	0	$	0	$	198
13.	OTHER (ATTACH LIST)	$	(37,946	)	$	0	$	0	$	(37,946	)
14.	TOTAL OPERATING EXPENSES	$	156,307		$	0	$	0	$	156,307
15.	INCOME BEFORE NON-OPERATING INCOME & EXPENSE	$	(156,307	)	$	0	$	0	$	(156,307	)
OTHER INCOME  & EXPENSES
16.	NON-OPERATING INCOME (ATT. LIST)	$	40,775		$	0	$	0	$	40,775
17.	NON-OPERATING EXPENSE (ATT. LIST)	$	0		$	0	$	0	$	0
18.	INTEREST EXPENSE	$	0		$	0	$	0	$	0
19.	DEPRECIATION / DEPLETION	$	0		$	0	$	0	$	0
20.	AMORTIZATION	$	0		$	0	$	0	$	0
21.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
22.	NET OTHER INCOME & EXPENSES	$	(40,775	)	$	0	$	0	$	(40,775	)
REORGANIZATION EXPENSES
23.	PROFESSIONAL FEES	$	0		$	0	$	0	$	0
24.	U.S. TRUSTEE FEES	$	0		$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
26.	TOTAL REORGANIZATION EXPENSES	$	0		$	0	$	0	$	0
27.	INCOME TAX	$	0		$	0	$	0	$	0
28.	NET PROFIT (LOSS)	$	(115,532	)	$	0	$	0	$	(115,532	)

	Monthly Operating Report
CASE NAME:  Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS-3
	2008
CASE  NUMBER:   07-44539

		MONTH							QUARTER
		April 2008			MONTH		MONTH		TOTAL
CASH RECEIPTS AND DISBURSEMENTS
1.	CASH - BEGINNING OF MONTH	$	400,376						$	400,376
RECEIPTS FROM OPERATIONS
2.	CASH SALES	$	0		$	0	$	0	$	0
COLLECTION OF ACCOUNTS RECEIVABLE
3.	PREPETITION	$	89,134		$	0	$	0	$	89,134
4.	POSTPETITION	$	0		$	0	$	0	$	0
5.	TOTAL OPERATING RECEIPTS	$	89,134		$	0	$	0	$	89,134
NON - OPERATING RECEIPTS
6.	LOANS  & ADVANCES (ATTACH LIST)	$	0		$	0	$	0	$	0
7.	SALE OF ASSETS	$	1,650		$	0	$	0	$	1,650
8.	OTHER (ATTACH LIST)	$	(19,068	)	$	0	$	0	$	(19,068	)
9.	TOTAL NON-OPERATING RECEIPTS	$	(17,418	)	$	0	$	0	$	(17,418	)
10.	TOTAL RECEIPTS	$	71,716		$	0	$	0	$	71,716
11.	TOTAL CASH AVAILABLE	$	472,092		$	0	$	0	$	472,092
OPERATING DISBURSEMENTS
12.	NET PAYROLL	$	0		$	0	$	0	$	0
13.	PAYROLL TAXES PAID	$	0		$	0	$	0	$	0
14.	SALES, USE  & OTHER TAXES PAID	$	0		$	0	$	0	$	0
15.	SECURED / RENTAL / LEASES	$	0		$	0	$	0	$	0
16.	UTILITIES	$	0		$	0	$	0	$	0
17.	INSURANCE	$	0		$	0	$	0	$	0
18.	INVENTORY PURCHASES	$	0		$	0	$	0	$	0
19.	VEHICLE EXPENSES	$	0		$	0	$	0	$	0
20.	TRAVEL	$	0		$	0	$	0	$	0
21.	ENTERTAINMENT	$	0		$	0	$	0	$	0
22.	REPAIRS  & MAINTENANCE	$	0		$	0	$	0	$	0
23.	SUPPLIES	$	0		$	0	$	0	$	0
24.	ADVERTISING	$	0		$	0	$	0	$	0
25.	OTHER (ATTACH LIST)				$	0	$	0	$	0
26.	TOTAL OPERATING DISBURSEMENTS	$	0		$	0	$	0	$	0
REORGANIZATION EXPENSES
27.	PROFESSIONAL FEES	$	0		$	0	$	0	$	0
28.	U.S. TRUSTEE FEES	$	0		$	0	$	0	$	0
29.	OTHER (ATTACH LIST)	$	0		$	0	$	0	$	0
30.	TOTAL REORGANIZATION EXPENSES	$	0		$	0	$	0	$	0
31.	TOTAL DISBURSEMENTS	$	0		$	0	$	0	$	0
32.	NET CASH FLOW	$	71,716		$	0	$	0	$	71,716
33.	CASH - END OF MONTH	$	472,092		$	0	$	0	$	472,092

	Monthly Operating Report
CASE NAME:  Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS-4
	2008
CASE  NUMBER:   07-44539

		SCHEDULE		MONTH		MONTH		MONTH
ACCOUNTS RECEIVABLE AGING		AMOUNT		April 2008		0		0
1.	0-30			$	0
2.	31-60			$	0
3.	61-90			$	0
4.	91+			$	267,452
5.	TOTAL ACCOUNTS RECEIVABLE	$	428,572	$	267,452	$	0	$	0
6.	AMOUNT CONSIDERED UNCOLLECTIBLE	$	0	$	0	$	0	$	0
7.	ACCOUNTS RECEIVABLE (NET)	$	428,572	$	267,452	$	0	$	0

AGING OF POSTPETITION TAXES AND PAYABLES MONTH:  April 2008

		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)	$	165,257		$	0	$	0	$	0	$	165,257
5.	TOTAL TAXES PAYABLE	$	0		$	0	$	0	$	0	$	165,257
6.	ACCOUNTS PAYABLE	$	(22,522	)	$	0	$	36,019	$	844,610	$	858,107

STATUS OF POSTPETITION TAXES MONTH:  April 2008

		BEGINNING		AMOUNT				ENDING
		TAX		WITHHELD AND/		AMOUNT		TAX
		LIABILITY*		OR ACCRUED		PAID		LIABILITY
FEDERAL
1.	WITHHOLDING**	$	0	$	0	$	0	$	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	$	0	$	0	$	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	$	0	$	0	$	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 Aircargo, Inc.	ACCRUAL BASIS-5
	2008
CASE  NUMBER:   07-44539

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.

BANK RECONCILIATIONS MONTH: April 2008

		Account #1		Account #2		Account #3		TOTAL
A.	BANK:	Capital One		JP Morgan Chase		Capital One
B.	ACCOUNT NUMBER:	3620477833		100130152		3620562563
C.	PURPOSE (TYPE):	Depository		Operating		Asset Sales
1.	BALANCE PER BANK STATEMENT	$	52,401	$	0	$	419,691	$	472,092
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	$	52,401	$	0	$	419,691	$	472,092
6.	NUMBER OF LAST CHECK WRITTEN	None		No Checks		No Checks

INVESTMENT ACCOUNTS

		DATE OF	TYPE OF	PURCHASE		CURRENT
BANK, ACCOUNT NAME & NUMBER		PURCHASE	INSTRUMENT	PRICE		VALUE
7.	N/A
8.
9.
10.
11.	TOTAL INVESTMENTS			$	0	$	0

CASH

12.	CURRENCY ON HAND	$	0
13.	TOTAL CASH - END OF MONTH	$	472,092

	Monthly Operating Report
CASE NAME:  Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS-6
	2008
CASE  NUMBER:   07-44539

MONTH:  April 2008

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.	Robbie Barron	Salary, Expense Reports	$	2,243	$	106,934
2.	Danny Clifton	Salary, Expense Reports	$	0	$	22,418
3.	Mark Luman	Salary, Expense Reports	$	1,346	$	60,944
4.
5.
6.	TOTAL PAYMENTS TO INSIDERS		$	3,589	$	190,296

PROFESSIONALS

		DATE OF COURT							TOTAL
		ORDER AUTHORIZING	AMOUNT		AMOUNT		TOTAL PAID		INCURRED
NAME		PAYMENT	APPROVED		PAID		TO DATE		& UNPAID *
1.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO PROFESSIONALS		$	0	$	0	$	0	$	0

* 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.	GECAS; all aircraft returned 12/07	$	738,159			$	1,372,597
2.	AirLease International; all aircraft returned 1/08	$	48,910			$	0
3.
4.
5.
6.	TOTAL	$	787,069	$	0	$	1,372,597

	Monthly Operating Report
CASE NAME:  Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS-7
	2008
CASE  NUMBER:   07-44539

MONTH:  April 2008

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.

1 - Misc equipment sold i/a/w asset sale motion approved by the Court

10 - due to operation shut down, DIP order did not allow payment of expenditures between 10/15 and 10/29 until DIP lender paid in full; payments on post petition liabilties have resumed and will be paid i/a/w Plan of Reorganization

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
See Case #07-44536, Kitty Hawk, Inc.

	Footnotes Supplement
CASE NAME:  Kitty Hawk Aircargo, Inc.	ACCRUAL BASIS
	2008
CASE  NUMBER:   07-44539

MONTH: April 2008

Accrual Basis Form Number	Line Number	Footnote/Explanation
3	8	All available cash received into each subsidiary cash account is transferred to Kitty Hawk, Inc. (Case #07-44536)
3	13	Beginning April 1, 2008, due to the limited number of employees (8), the payroll system was no longer used and employees were paid through Accounts Payable. The amounts paid include the employer portion of all applicable payroll taxes and the employees are responsible for remitting the payroll taxes to the appropriate taxing authority.
3	31	All disbursements (either by wire transfer or check), including payroll, are disbursed out of the Kitty Hawk, Inc. disbursement accounts (Case #07-44536)
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. (Case #07-44536)
6	Post Pet Leases	GECAS and AirLease are aircraft and engine leases which are protected under Section 1110; Debtor may delay lease payment 60 days from petition date; payments are covered under allowed admin claim to be settled upon effective date of Plan.
7		All insurance policies for Kitty Hawk Aircargo, Inc. are carried in the name of Kitty Hawk, Inc. (Case #07-44536)
3	15	Cash receipts collected was automatically transferred to Laurus Master Fund to paydown revolver until paid in full on 12/07; afterwards, cash receipts tranferred directly to Kitty Hawk, Inc. (Case #07-44536)
3	7	All proceeds from the sale of assets in all 5 cases (07-44536, 44537, 44538, 44539, 44540) are deposited into the account maintained at Capital One Bank in the name of Kitty Hawk Aircargo, Inc. Asset Sales Account

CASE NAME:	Kitty Hawk Aircargo, Inc.
CASE NUMBER:	07-44539
Details of Other Items

	April 2008
ACCRUAL BASIS - 1
8. OTHER (ATTACH LIST)	238,351		Reported
AR 401(k)	(834	)
AR - Accrued	380
AR Employees	(1,604	)
Fuel intoplane suspense	(282	)
Deposits	240,691
	238,351		Detail
	0		Difference
15. OTHER (ATTACH LIST)	6,995,873		Reported
Intercompany receivable	6,995,873
	6,995,873		Detail
	0		Difference
22. OTHER (ATTACH LIST)	833,653		Reported
Payroll clearing	(3,394	)
General Accrued AP	824,232
Accrued Union Dues	(9,323	)
Accrued wages	0
Accrued 401(k)	(72	)
Accrued Fuel	22,210
	833,653		Detail
	0		Difference
ACCRUAL BASIS - 2
13. OTHER OPERATING EXPENSE	(37,946	)	Reported
Crewmember wages	5,006
Crewmember travel	(8,177	)
Training	0
Flight Operations Admin wages & travel	6,247
Flight Planning Expense	0
Aircraft Insurance	0
Ground Operating Expense	(4,750	)
Fuel	128,594
Maintenance wages & travel	(834	)
Support costs	(133	)
Contract labor	(46	)
Parts Related Expense	31
Contractual Maintenance agreements	0
Allocation to Cargo	(132,632	)
On demand charter expense	(31,252	)
	(37,946	)	Detail
	0		Difference
16. NON-OPERATING INCOME (ATT. LIST)	40,775		Reported
Interest income	495
Gain on sale of assets	40,280
	40,775		Detail
	0		Difference
ACCRUAL BASIS - 3
8. OTHER (ATTACH LIST)	(19,068	)	Reported
Transfer to Inc (#07-44536)	(36,733	)
Transfer from Inc (#07-44536)	17,300
Interest Income	365
	(19,068	)	Detail
	0		Difference
ACCRUAL BASIS - 4
Aging of Post-petition Taxes	165,257		Reported
Accrued franchise tax	388
Accrued property tax	164,869
	165,257		Detail
	0		Difference

EX-99.5

Exhibit 99.5

		Monthly Operating Report
CASE NAME:	KH Ground, Inc.	ACCRUAL BASIS
		2008
CASE NUMBER:	07-44540
JUDGE:  Russell F. Nelms

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF TEXAS

DIVISION 6

MONTHLY  OPERATING  REPORT

MONTH  ENDING:  APRIL 30, 2008

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/James R. Kupferschmid	Senior VP and Chief Restructing Officer
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY	TITLE
James R. Kupferschmid	May 20, 2008
PRINTED NAME OF RESPONSIBLE PARTY	DATE
PREPARER:
/s/ Jessica L. Wilson	VP and Chief Financial Officer
ORIGINAL SIGNATURE OF PREPARER	TITLE
Jessica L. Wilson	May 20, 2008
PRINTED NAME OF PREPARER	DATE

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-1
	2008
CASE NUMBER: 07-44540

COMPARATIVE  BALANCE  SHEET

		SCHEDULE		MONTH
		AMOUNT		April 2008			MONTH		MONTH
ASSETS
1.	UNRESTRICTED CASH	$	0	$	0		$	0	$	0
2.	RESTRICTED CASH	$	0	$	0		$	0	$	0
3.	TOTAL CASH	$	0	$	0		$	0	$	0
4.	ACCOUNTS RECEIVABLE (NET)	$	0	$	0		$	0	$	0
5.	INVENTORY	$	0	$	0		$	0	$	0
6.	NOTES RECEIVABLE	$	0	$	0		$	0	$	0
7.	PREPAID EXPENSES	$	0	$	0		$	0	$	0
8.	OTHER (ATTACH LIST)	$	0	$	0		$	0	$	0
9.	TOTAL CURRENT ASSETS	$	0	$	0		$	0	$	0
10.	PROPERTY, PLANT  & EQUIPMENT	$	0	$	0		$	0	$	0
11.	LESS: ACCUMULATED DEPRECIATION / DEPLETION	$	0	$	0		$	0	$	0
12.	NET PROPERTY, PLANT  & EQUIPMENT	$	0	$	0		$	0	$	0
13.	DUE FROM INSIDERS	$	0	$	0		$	0	$	0
14.	OTHER ASSETS - NET OF AMORTIZATION (ATTACH LIST)	$	0	$	0		$	0	$	0
15.	OTHER (ATTACH LIST)	$	0	$	0		$	0	$	0
16.	TOTAL ASSETS	$	0	$	0		$	0	$	0
POSTPETITION LIABILITIES
17.	ACCOUNTS PAYABLE			$	0		$	0	$	0
18.	TAXES PAYABLE			$	0		$	0	$	0
19.	NOTES PAYABLE			$	0		$	0	$	0
20.	PROFESSIONAL FEES			$	0		$	0	$	0
21.	SECURED DEBT			$	0		$	0	$	0
22.	OTHER (ATTACH LIST)			$	0		$	0	$	0
23.	TOTAL POSTPETITION LIABILITIES			$	0		$	0	$	0
PREPETITION LIABILITIES
24.	SECURED DEBT	$	16,684,744	$	0		$	0	$	0
25.	PRIORITY DEBT	$	0	$	0		$	0	$	0
26.	UNSECURED DEBT	$	0	$	0		$	0	$	0
27.	OTHER (ATTACH LIST)	$	0	$	575		$	0	$	0
28.	TOTAL PREPETITION LIABILITIES	$	16,684,744	$	575		$	0	$	0
29.	TOTAL LIABILITIES	$	16,684,744	$	575		$	0	$	0
EQUITY
30.	PREPETITION OWNERS’ EQUITY	0		$	0		$	0	$	0
31.	POSTPETITION CUMULATIVE PROFIT OR (LOSS)			$	(575	)	$	0	$	0
32.	DIRECT CHARGES TO EQUITY (ATTACH EXPLANATION)			$	0		$	0	$	0
33.	TOTAL EQUITY	$	0	$	(575	)	$	0	$	0
34.	TOTAL LIABILITIES  & OWNERS’ EQUITY	$	16,684,744	$	0		$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-2
	2008
CASE NUMBER: 07-44540

INCOME STATEMENT

		MONTH		MONTH		MONTH		QUARTER
		April 2008		0		0		TOTAL
REVENUES
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	$	0	$	0	$	0	$	0
10.	SELLING  & MARKETING	$	0	$	0	$	0	$	0
11.	GENERAL & ADMINISTRATIVE	$	0	$	0	$	0	$	0
12.	RENT  & LEASE	$	0	$	0	$	0	$	0
13.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
14.	TOTAL OPERATING EXPENSES	$	0	$	0	$	0	$	0
15.	INCOME BEFORE NON-OPERATING							$	0
	INCOME & EXPENSE	$	0	$	0	$	0	$	0
OTHER INCOME  & EXPENSES
16.	NON-OPERATING INCOME (ATT. LIST)	$	0	$	0	$	0	$	0
17.	NON-OPERATING EXPENSE (ATT. LIST)	$	0	$	0	$	0	$	0
18.	INTEREST EXPENSE	$	0	$	0	$	0	$	0
19.	DEPRECIATION / DEPLETION	$	0	$	0	$	0	$	0
20.	AMORTIZATION	$	0	$	0	$	0	$	0
21.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
22.	NET OTHER INCOME & EXPENSES	$	0	$	0	$	0	$	0
REORGANIZATION EXPENSES
23.	PROFESSIONAL FEES	$	0	$	0	$	0	$	0
24.	U.S. TRUSTEE FEES	$	0	$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
26.	TOTAL REORGANIZATION EXPENSES	$	0	$	0	$	0	$	0
27.	INCOME TAX	$	0	$	0	$	0
28.	NET PROFIT (LOSS)	$	0	$	0	$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-3
	2008
CASE NUMBER: 07-44540

		MONTH		MONTH		MONTH		QUARTER
		April 2008		0		0		TOTAL
CASH RECEIPTS AND DISBURSEMENTS
1.	CASH - BEGINNING OF MONTH	$	0	$	0	$	0	$	0
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)	$	0	$	0	$	0	$	0
9.	TOTAL NON-OPERATING RECEIPTS	$	0	$	0	$	0	$	0
10.	TOTAL RECEIPTS	$	0	$	0	$	0	$	0
11.	TOTAL CASH AVAILABLE	$	0	$	0	$	0	$	0
OPERATING DISBURSEMENTS
12.	NET PAYROLL	$	0	$	0	$	0	$	0
13.	PAYROLL TAXES PAID	$	0	$	0	$	0	$	0
14.	SALES, USE  & OTHER TAXES PAID	$	0	$	0	$	0	$	0
15.	SECURED / RENTAL / LEASES	$	0	$	0	$	0	$	0
16.	UTILITIES	$	0	$	0	$	0	$	0
17.	INSURANCE	$	0	$	0	$	0	$	0
18.	INVENTORY PURCHASES	$	0	$	0	$	0	$	0
19.	VEHICLE EXPENSES	$	0	$	0	$	0	$	0
20.	TRAVEL	$	0	$	0	$	0	$	0
21.	ENTERTAINMENT	$	0	$	0	$	0	$	0
22.	REPAIRS  & MAINTENANCE	$	0	$	0	$	0	$	0
23.	SUPPLIES	$	0	$	0	$	0	$	0
24.	ADVERTISING	$	0	$	0	$	0	$	0
25.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
26.	TOTAL OPERATING DISBURSEMENTS	$	0	$	0	$	0	$	0
REORGANIZATION EXPENSES
27.	PROFESSIONAL FEES	$	0	$	0	$	0	$	0
28.	U.S. TRUSTEE FEES	$	0	$	0	$	0	$	0
29.	OTHER (ATTACH LIST)	$	0	$	0	$	0	$	0
30.	TOTAL REORGANIZATION EXPENSES	$	0	$	0	$	0	$	0
31.	TOTAL DISBURSEMENTS	$	0	$	0	$	0	$	0
32.	NET CASH FLOW	$	0	$	0	$	0	$	0
33.	CASH - END OF MONTH	$	0	$	0	$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-4
	2008
CASE NUMBER: 07-44540

		SCHEDULE		MONTH		MONTH		MONTH
ACCOUNTS RECEIVABLE AGING		AMOUNT		April 2008		0		0
1.	0-30	$	0	$	0	$	0	$	0
2.	31-60	$	0	$	0	$	0	$	0
3.	61-90	$	0	$	0	$	0	$	0
4.	91+	$	0	$	0	$	0	$	0
5.	TOTAL ACCOUNTS RECEIVABLE	$	0	$	0	$	0	$	0
6.	AMOUNT CONSIDERED UNCOLLECTIBLE	$	0	$	0	$	0
7.	ACCOUNTS RECEIVABLE (NET)	$	0	$	0	$	0	$	0

AGING OF POSTPETITION TAXES AND PAYABLES MONTH: April 2008

		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	$	0	$	0	$	0	$	0	$	0

STATUS OF POSTPETITION TAXES MONTH: April 2008

		BEGINNING		AMOUNT				ENDING
		TAX		WITHHELD AND/		AMOUNT		TAX
		LIABILITY*		0R ACCRUED		PAID		LIABILITY
FEDERAL
1.	WITHHOLDING**	$	0	$	0	$	0	$	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	$	0	$	0	$	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	$	0	$	0	$	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: KH Ground, Inc.	ACCRUAL BASIS-5
	2008
CASE NUMBER: 07-44540

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.

BANK RECONCILIATIONS MONTH: April 2008

		Account #1		Account #2		Account #3		TOTAL
A.	BANK:	No Accounts
B.	ACCOUNT NUMBER:
C.	PURPOSE (TYPE:)
1.	BALANCE PER BANK STATEMENT
2.	ADD: TOTAL DEPOSITS NOT CREDITED
3.	SUBTRACT: OUTSTANDING CHECKS
4.	OTHER RECONCILING ITEMS
5.	MONTH END BALANCE PER BOOKS	$	0	$	0	$	0	$	0
6.	NUMBER OF LAST CHECK WRITTEN

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	$	0

	Monthly Operating Report
CASE NAME:  KH Ground, Inc.	ACCRUAL BASIS-6
	2008
CASE NUMBER: 07-44540
	MONTH:	April 2008

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.	No insiders
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO INSIDERS		$	0	$	0

		PROFESSIONALS
NAME		DATE OF COURT ORDER AUTHORIZING PAYMENT	AMOUNT APPROVED		AMOUNT PAID		TOTAL PAID TO DATE		TOTAL INCURRED & UNPAID*
1.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL PAYMENTS TO PROFESSIONALS		$	0	$	0	$	0	$	0

* 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.	See Case #07-44536, Kitty Hawk, Inc.
2.
3.
4.
5.
6.	TOTAL	$	0	$	0	$	0

	Monthly Operating Report
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS-7
	2008
CASE NUMBER: 07-44540
	MONTH:	April 2008

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.

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.

This is a non-operating entity with no assets or employees and therefore has no insurance policies

	INSTALLMENT PAYMENTS
TYPE OF			PAYMENT AMOUNT
POLICY	CARRIER	PERIOD COVERED	& FREQUENCY
No insurance due to being a non- operating entity with no assets or employees

	Footnotes Supplement
CASE NAME: KH Ground, Inc.	ACCRUAL BASIS
	2008
CASE NUMBER: 07-44540
	MONTH:	April 2008

Accrual Basis	Line
Form Number	Number	Footnote/Explanation
General		This is a non-operating entity.

Case Name:	KH Ground, Inc.
Case Number:	07-44540
Details of Other Items

	April 2008
ACCRUAL BASIS - 1
27. OTHER (ATTACH LIST)	575	Reported
Intercompany Payable to Kitty Hawk, Inc. (Case No. 07-44536)	575
	575	Detail
	0	Difference